Cost of Production Report

The debits to Work in ProcessRoasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows:

Work in process, August 1, 500 pounds, 40% completed $1,860*

*Direct materials (500 X $3.2) $1,600

Conversion (500 X 40% X $1.3) 260 $1,860

Coffee beans added during August, 16,000 pounds 50,400

Conversion costs during August 22,036

Work in process, August 31, 800 pounds, 30% completed ?

Goods finished during August, 15,700 pounds ?

All direct materials are placed in process at the beginning of production.

a. prepare a cost of production report, presenting the following computations:

1. Direct materials and conversion equivalent units of production for August.
2. Direct materials and conversion costs per equivalent unit for August.
3. Cost of goods finished during August.
4. Cost of work in process at August 31.

If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places.

Unit Information

Units charged to production:

Inventory in process, August 1 ..........

Received from materials storeroom ..........

Total units accounted for by the Roasting Department Units to be assigned costs: ............

Equivalent Units

Whole Units Direct Materials (1) Conversion (1)

Inventory in process, August 1 ............. ................ ..............

Started and completed in August ............. ................. ..............

Transferred to finished goods in August .............. ................. ...............

Inventory in process, August 31 .............. ................. ...............

Total units to be assigned costs .............. ................. ...............

Cost Information

Cost per equivalent unit:

Direct Materials Conversion

Total costs for August in Roasting Department $....................... $................

Total equivalent units ...................... ...............

Cost per equivalent unit (2) $...................... $ ...............

Costs assigned to production:

Direct Materials Conversion Total

Inventory in process, August 1 $...............

Costs incurred in August .................

Total costs accounted for by the Roasting Department $..................

Costs allocated to completed and partially completed units:

Inventory in process, August 1 balance : $ .................

To complete inventory in process, August 1 ....................... ....................... ..................

Cost of completed August 1 work in process $....................

Started and completed in August ...................... .............................. .....................

Transferred to finished goods in August (3) $ ......................

$Inventory in process, August 31 (4) ........................ ............................. .........................

Total costs assigned by the Roasting Department $............................