Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cost of Production Report: Weighted Average Cost Method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From
Cost of Production Report: Weighted Average Cost Method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31: ACCOUNT Work in Process Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal, 18,500 units, 30% completed 31 Direct materials, 320,100 units 31 Direct labor 713,823 31 Factory overhead 406,510 584,979 72,520 786,343 1,192,853 1,777,832 31 Gods transferred, 322,800 units 31 Bal, 2 units, 80% completed Required: Prepare a cost of production report, using the weighted average cost method, and identify the missing amounts for Work in Process-Roasting Department. If required, round your cost per equivalent unit answer to the nearest cent. Sunrise Coffee Company Cost of Production Report Roasting Department For the Month Ended December 31 Units to account for during production: Inventory in process, December 1 e from materials t Unit Information
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started