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., 14,000 units, 75% completed | 36,260 | |||||
31 | Direct materials, 242,200 units | 356,034 | 392,294 | |||||
31 | Direct labor | 193,999 | 586,293 | |||||
31 | Factory overhead | 279,169.5 | 865,462.5 | |||||
31 | Goods transferred, 244,300 units | ? | ? | |||||
31 | Bal., ? units, 25% 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 |
All the "fill in the blank" need to be answered and I don't have a clue how to start it. Please help thanks.
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