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{part 1} {part 2} {part 3} Cost of Production Report The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together
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Cost of Production Report The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: $5,856 Work in process, August 1, 1,200 pounds, 40% completed *Direct materials (1,200 X $4.2) $5,040 Conversion (1,200 X 40 % X $1.7) $816 $5,856 Coffee beans added during August, 38,000 pounds 157,700 Conversion costs during August 68,616 Work in process, August 31, 2,000 pounds, 70% completed Goods finished during August, 37,200 pounds All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August 2. Direct materials and conversion costs per equivalent unit for August 3. Cost of goods finished during August 4. Cost of work in process at August 31 If an amount is zero, enter in "O". For the cost per equivalent unit, round your answer to two decimal places. IS Z Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Unit Information Units charged to production: Inventory in process, August 1 1,200 Received from materials storeroom 38,000 39,200 Total units accounted for by the Roasting Department Units to be assigned costs: Equivalent Units Direct Conversion (1) Whole Units Materials (1) Inventory in process, August 1 1,200 0 720 Started and completed in August 36,000 36,000 36,000 Transferred to finished goods in August 36,000 37,200 36.720 2,000 2,000 1,400 Inventory in process, August 31 39,200 38,000 38,120 Total units to be assigned costs Cost Information Costs per equivalent unit: Direct Conversion Materials Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Costs assigned to production: 39,200 38,000 38,120 Total units to be assigned costs Cost Information Costs per equivalent unit: Direct Conversion Materials Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Costs assigned to production: Direct Total Conversion Materials 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 DepartmentStep by Step Solution
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