Cost of Production Report: Weighted average method

The increases to Work in ProcessRoasting Department for Highlands Coffee Company for May as well as information concerning production are as follows:

Work in process, May 1, 1,150 pounds, 40% completed $1,700

Coffee beans added during May, 10,900 pounds 28,600

Conversion costs during May 12,504

Work in process, May 31, 800 pounds, 80% completed _

Goods finished during May, 11,250 pounds _

The assignment says prepare a cost of production report for May, using the Weighted average method. Assume that direct materials are placed in process during production. If required, round cost per equivalent unit answers to the nearest cent.

Highlands Coffee Company

Cost of Production Report-Roasting Department

For the Month Ended May 31

Unit Information

Units charged to production:

Inventory in process, May 1

Received from materials storeroom

Total units accounted for by the Roasting Department

Units to be assigned costs:

Whole Units Equivalent Units of Production

Transferred to finished goods in May

Inventory in process, May 31

Total units to be assigned costs

Cost Information

Cost per equivalent unit:

Costs

Total costs for May in Roasting Department $

Total equivalent units

Cost per equivalent unit $

Costs assigned to production:

Inventory in process, May 1 $

Costs incurred in May

Total costs accounted for by the Roasting Department $

Costs allocated to completed and partially completed units:

Transferred to finished goods in May $

Inventory in process, May 31

Total costs assigned by the Roasting Department $