Cost of production report The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 600 pounds, 10% completed "Direct materials (600 $4.70) Conversion (600 x 10% $1.35) Coffee beans added during August, 12,257 pounds Conversion costs during August Work in process, August 31, 357 pounds, 42% completed Goods finished during August, 12,500 pounds $2,820 X Open spreadsheet 81 $2,901 a. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August $2,901* 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. 55,157 19,514 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 "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 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 4 Whole Units Equivalent Units Direct Materials (1) Conversion (1) eBook Show Me How 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 per equivalent unit: Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Costs assigned to production: Office 365 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 Print Item Direct Materials 100 Costs Conversion 00 Total W I Show Me How Total equivalent units Cost per equivalent unit (2) Costs assigned to production: Office 365 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 Print Item Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit 000 4 b. 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
