Equivalent Units of Production and Related Costs

The charges to Work in ProcessBaking Department for a period as well as information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials are placed in process during production.

Work in ProcessBaking Department
Bal., 3,300 units, 30% completed	6,435	To Finished Goods, 23,700 units	?
Direct materials, 24,100 units	68,685
Direct labor	37,178
Factory overhead	19,152
Bal., 3,700 units, 70% completed	?

If required, round cost per equivalent unit answer to two decimal places.

a. Determine the number of whole units to be accounted for and to be assigned costs. units

b. Determine the number of equivalent units of production. units

c. Determine the cost per equivalent unit. $ per equivalent unit

d. Determine the cost of the units transferred to Finished Goods. $

e. Determine the cost of units in ending Work in Process. $

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Cost of Production Report: Average Cost Method

The increases to Work in ProcessRoasting Department for Highlands Coffee Company for May 2016 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	_

Prepare a cost of production report, using the average cost method. 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, 2016
Unit Information
Units to account for during 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
Costs 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		$