Question
Cost of Production Report: Weighted average method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting
-
Cost of Production Report: Weighted average 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. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 15,100 units, 40% completed 32,465 31 Direct materials, 261,200 units 318,664 351,129 31 Direct labor 183,036 534,165 31 Factory overhead 263,393 797,558 31 Goods transferred, 263,500 units ? ? 31 Bal., ? units, 90% completed ?
Required:
Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in ProcessRoasting Department. Assume that direct materials are placed in process during production. If required, round your cost per equivalent unit answer to two decimal places.
Sunrise Coffee Company Cost of Production Report-Roasting Department For the Month Ended December 31 Unit Information Units charged to production: Inventory in process, December 1 fill in the blank 1 Received from materials storeroom fill in the blank 2 Total units accounted for by the Roasting Department fill in the blank 3 Units to be assigned costs: Whole Units Equivalent Units of Production Transferred to Packing Department in December fill in the blank 4 fill in the blank 5 Inventory in process, December 31 fill in the blank 6 fill in the blank 7 Total units to be assigned costs fill in the blank 8 fill in the blank 9 Cost Information Cost per equivalent unit: Costs Total costs for December in Roasting Department $fill in the blank 10 Total equivalent units fill in the blank 11 Cost per equivalent unit $fill in the blank 12 Costs assigned to production: Inventory in process, December 1 $fill in the blank 13 Costs incurred in December fill in the blank 14 Total costs accounted for by the Roasting Department $fill in the blank 15 Costs allocated to completed and partially completed units: Transferred to Packing Department in December $fill in the blank 16 Inventory in process, December 31 fill in the blank 17 Total costs assigned by the Roasting Department $fill in the blank 18
Cost of Production Report: Weighted average 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. | |||||||
Date | Item | Debit | Credit | Balance | ||||
Debit | Credit | |||||||
Dec. | 1 | Bal., 15,100 units, 40% completed | 32,465 | |||||
31 | Direct materials, 261,200 units | 318,664 | 351,129 | |||||
31 | Direct labor | 183,036 | 534,165 | |||||
31 | Factory overhead | 263,393 | 797,558 | |||||
31 | Goods transferred, 263,500 units | ? | ? | |||||
31 | Bal., ? units, 90% completed | ? |
Required:
Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in ProcessRoasting Department. Assume that direct materials are placed in process during production. If required, round your cost per equivalent unit answer to two decimal places.
Sunrise Coffee Company | ||
Cost of Production Report-Roasting Department | ||
For the Month Ended December 31 | ||
Unit Information | ||
Units charged to production: | ||
Inventory in process, December 1 | fill in the blank 1 | |
Received from materials storeroom | fill in the blank 2 | |
Total units accounted for by the Roasting Department | fill in the blank 3 | |
Units to be assigned costs: | ||
Whole Units | Equivalent Units of Production | |
Transferred to Packing Department in December | fill in the blank 4 | fill in the blank 5 |
Inventory in process, December 31 | fill in the blank 6 | fill in the blank 7 |
Total units to be assigned costs | fill in the blank 8 | fill in the blank 9 |
Cost Information | ||
Cost per equivalent unit: | ||
Costs | ||
Total costs for December in Roasting Department | $fill in the blank 10 | |
Total equivalent units | fill in the blank 11 | |
Cost per equivalent unit | $fill in the blank 12 | |
Costs assigned to production: | ||
Inventory in process, December 1 | $fill in the blank 13 | |
Costs incurred in December | fill in the blank 14 | |
Total costs accounted for by the Roasting Department | $fill in the blank 15 | |
Costs allocated to completed and partially completed units: | ||
Transferred to Packing Department in December | $fill in the blank 16 | |
Inventory in process, December 31 | fill in the blank 17 | |
Total costs assigned by the Roasting Department | $fill in the blank 18 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started