eBook

Cost of Production Report

The debits to Work in Process $-$ Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, ar as follows:

Work in process, August $1,1,000$ pounds, $20\%$ completed

$*$Direct materials $(1,000$$$4\mathrm{.}00)$

Conversion $(1,00020\%$$$1\mathrm{.}60)$

Coffee beans added during August, $31,000$ pounds

Conversion costs during August

Work in process, August $31,1,600$ pounds, $70\%$ completed

Goods finished during August, $30,400$ pounds

All direct materials are placed in process at the beginning of production.

a$.$ Prepare a cost of production report, presenting the following computations:

Direct materials and conversion equivalent units of production for August

Direct materials and conversion costs per equivalent unit for August

Cost of goods finished during August

Cost of work in process at August $31$

$$4,{320}^{**}$

$$4,000$

$320$

$$4,320$

$122,450$

$53,244$

$?$

$?$

f an amount is zero, enter in $"0".$ For the cost per equivalent unit, round your answer to the nearest cent.

Morning Brew Coffee Company

Cost of Production Report $-$ Roasting Department

For the Month Ended August $31$

Units

Whole Units

Equivalent Units

Equivalent Units Direct Materials $(1)$ Conversion $(1)$

Units charged to production:

Inventory in process, August $1$

Received from materials storeroom

Total units accounted for by the Roasting Department

Units to be assigned costs:

Inventory in process, August $1$

Started and completed in August

Transferred to finished goods in August

Inventory in process, August $31$

Total units to be assigned costs

Costs

Costs

Direct Materials

Conversion

Total Costs

eBook

Costs assigned to production:

Inventory in process, August $1$

Costs incurred in August

Total costs accounted for by the Roasting Department

Costs allocated to completed and partially completed units:

Inventory in process, August $1$ balance

To complete inventory in process, August $1$

Cost of completed August $1$ work in process

Started and completed in August

Transferred to finished goods in August $(3)$

Inventory in process, August $31(4)$

Total costs assigned by the Roasting Department

$