Cost of Productlon Report: Average Cost Method

The Increases to Work In Process$-$Roasting Department for Boston Coffee Company for March $2016$ as well as information concerning productlon are as follows:

Work in process, March $1,2,100$ pounds, $30\%$ completed

Coffee beans added during March, $129,600$ pounds

Converslon costs during March

Work in process, March $31,1,300$ pounds, $70\%$ completed

Goods finished during March, $130,400$ pounds

$$18,380$

$634,230$

$266,560$

Prepare a cost of production report, using the average cost method. If required, round cost per equivalent unit answers to the nearest cent.

Boston Coffee Company

Cost of Production Report$-$Roasting Department

For the Month Ended March $31,2016$

Unit Information

Units to account for during productlon:

Inventory in process, March $1$

Recelved from materlals 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 March

Inventory in process, March $31$

Total units to be assigned costs

Cost Information

Costs per equivalent unit:

Total costs for March in Roasting Department

Total equivalent units

Cost per equivalent unit

Costs assigned to production:

Inventory in process, March $1$

Costs incurred in March

Total costs accounted for by the Roasting Department

Costs allocated to completed and partially completed units:

Transferred to finished goods in March

Inventory in process, March $31$

Total costs assigned by the Roasting Department