eBook Show Me How Cost of Units Transferred out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $2.00 and $1.95, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, July 1 0 3,900 Started and completed during July 55,000 55,000 Transferred out of Rolling (completed) 55,000 58,900 Inventory in process, Duly 31 4,000 2,400 Total units to be assigned costs 59,000 61,300 The beginning work in process inventory on July 1 had a cost of $2,730. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, ending Total costs assigned by the Rolling Department Equivalent Units of Production and Related Costs The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department 17,440 To Finished Goods, 29,600 units 275,500 Bal., 1,600 units, 35% completed Direct materials, 29,000 units @ $9.50 Direct labor 84,600 39,258 Factory overhead Bal.? units, 45% completed Determine the following: a. The number of units in work in process inventory at the end of the period. units b. Equivalent units of production for direct materials and conversion. If an amount is zero or a blank, enter in "O" Work in Process-Assembly Department Equivalent Units of Production for Direct Materials and Conversion Costs Whole Units Equivalent Units Equivalent Units Direct Materials Conversion Inventory in process, beginning Started and completed Transferred to finished goods Inventory in process, ending Total units C. Costs per equivalent unit for direct materials and conversion. Costs Per Equivalent Unit Direct Materials $ Conversion eBook Show Me How Work in Process- Assembly Department To Finished Goods, 29,600 units ? Bal., 1,600 units, 35% completed Direct materials, 29,000 units @ $9.50 Direct labor 17,440 275,500 84,600 Factory overhead 39,258 Bal.? units, 45% completed Determine the following: a. The number of units in work in process inventory at the end of the period. units b. Equivalent units of production for direct materials and conversion. If an amount is zero or a blank, enter in "O", Work in Process-Assembly Department Equivalent Units of Production for Direct Materials and conversion Costs Whole Units Equivalent Units Equivalent Units Direct Materials Conversion Inventory in process, beginning Started and completed Transferred to finished goods Inventory in process, ending Total units C. Costs per equivalent unit for direct materials and conversion. Costs Per Equivalent Unit Direct Materials Conversion d. Cost of the units started and completed during the period. Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department 17,440 To Finished Goods, 29,600 units ? 275,500 Bal., 1,600 units, 35% completed Direct materials, 29,000 units @ $9.50 Direct labor 84,600 39,258 Factory overhead Bal.? units, 45% completed Cost per equivalent units of $9.50 for Direct Materials and $4.20 for Conversion Costs. a. Based on the above data, determine the different costs listed below. $ 1. Cost of beginning work in process inventory completed this period. $ 2. Cost of units transferred to finished goods during the period. $ 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? C. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period? Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31: ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit July 1 Bal., 7,000 units, 1/5 completed 20,720 31 Direct materials, 315,000 units 913,500 934,220 31 Direct labor 178,200 1,112,420 31 Factory overhead 44,540 1,156,960 31 Goods transferred, 316,000 units ? 31 Bal., 2 units, 3/5 completed ? Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "O". When computing cost per equivalent units, round to two decimal places. Hana Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information Units charged to production: Inventory in process, July 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Whole Units Equivalent Units Direct Materials Conversion W Inventory in process, July 1 Started and completed in July Transferred to Packing Department in July Total units to be assigned costs Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Direct Materials Total Conversion Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, July 1 balance To complete inventory in process, July 1 Cost of completed July 1 work in process Started and completed in July Transferred to Molding Department in July Inventory in process, July 31 Total costs assigned by the Roasting Department 2. Assuming that the July 1 work in process inventory includes $19,600 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit