Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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:

CCOUNT Work in ProcessRoasting Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
July 1 Bal., 6,100 units, 4/5 completed 9,272
31 Direct materials, 274,500 units 356,850 366,122
31 Direct labor 65,100 431,222
31 Factory overhead 16,272 447,494
31 Goods transferred, 275,000 units ?
31 Bal., ? units, 1/5 completed ?

Required:Prepare a cost of production report, and identify the missing amounts for Work in ProcessRoasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to two decimal places.

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:

Inventory in process, July 1 fill in the blank 6d0543015f84fe0_4 fill in the blank 6d0543015f84fe0_5 fill in the blank 6d0543015f84fe0_6
Started and completed in July fill in the blank 6d0543015f84fe0_7 fill in the blank 6d0543015f84fe0_8 fill in the blank 6d0543015f84fe0_9
Transferred to Packing Department in July fill in the blank 6d0543015f84fe0_10 fill in the blank 6d0543015f84fe0_11 fill in the blank 6d0543015f84fe0_12
Inventory in process, July 31 fill in the blank 6d0543015f84fe0_13 fill in the blank 6d0543015f84fe0_14 fill in the blank 6d0543015f84fe0_15
Total units to be assigned costs fill in the blank 6d0543015f84fe0_16 fill in the blank 6d0543015f84fe0_17 fill in the blank 6d0543015f84fe0_18
Cost Information
Cost per equivalent unit:
Direct Materials Conversion
Total costs for July in Roasting Department $fill in the blank 6d0543015f84fe0_19 $fill in the blank 6d0543015f84fe0_20
Total equivalent units fill in the blank 6d0543015f84fe0_21 fill in the blank 6d0543015f84fe0_22
Cost per equivalent unit $fill in the blank 6d0543015f84fe0_23 $fill in the blank 6d0543015f84fe0_24
Costs assigned to production:
Direct Materials Conversion Total
Inventory in process, July 1 $fill in the blank 6d0543015f84fe0_25
Costs incurred in July fill in the blank 6d0543015f84fe0_26
Total costs accounted for by the Roasting Department $fill in the blank 6d0543015f84fe0_27
Costs allocated to completed and partially completed units:
Inventory in process, July 1 balance $fill in the blank 6d0543015f84fe0_28
To complete inventory in process, July 1 $fill in the blank 6d0543015f84fe0_29 $fill in the blank 6d0543015f84fe0_30 fill in the blank 6d0543015f84fe0_31
Cost of completed July 1 work in process $fill in the blank 6d0543015f84fe0_32
Started and completed in July fill in the blank 6d0543015f84fe0_33 fill in the blank 6d0543015f84fe0_34 fill in the blank 6d0543015f84fe0_35
Transferred to Molding Department in July $fill in the blank 6d0543015f84fe0_36
Inventory in process, July 31 fill in the blank 6d0543015f84fe0_37 fill in the blank 6d0543015f84fe0_38
Total costs assigned by the Roasting Department

\

Assuming that the July 1 work in process inventory includes $7,320 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Communication And Auditing A Step By Step Guide

Authors: Melanie McKay, Elizabeth Rosa

1st Edition

075931652X, 978-0759316522

More Books

Students also viewed these Accounting questions

Question

Should people be forcibly medicated in order to be made competent?

Answered: 1 week ago

Question

The company openly shares plans and information with employees.

Answered: 1 week ago