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, 600 pounds, 30% completed				$3,063*
	*Direct materials (600 $4.70)	$2,820
	Conversion (600 30% $1.35)	243
		$3,063
Coffee beans added during August, 12,257 pounds				55,769
Conversion costs during August				18,705
Work in process, August 31, 357 pounds, 42% completed				?
Goods finished during August, 12,500 pounds				?

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

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

1. 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 "0". Round the answers in units to the nearest whole number, the answer for the cost per equivalent unit to the nearest cent, and the other monetary answers to the nearest whole dollar.

   Morning Brew Coffee Company
   Cost of Production Report-Roasting Department
   For the Month Ended August 31
   UNITS			Equivalent Units
   	Whole Units		Direct Materials (1)		Conversion (1)
   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:
   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
   COSTS	Costs
   	Direct Materials		Conversion		Total
   Costs per equivalent unit:
   Total costs for August in Roasting Department	$		$
   Total equivalent units
   Cost per equivalent unit (2)	$		$
   Costs assigned to production:
   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 1balance					$
   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					$

2. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). Round your answers to the nearest cent.

   	Increase or Decrease	Amount
   Change in direct materials cost per equivalent unit		$
   Change in conversion cost per equivalent unit		$