Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help stuck on the second part of the spreadsheet!! Cost of production report Hana Coffee Company roasts and packs coffee beans. The process begins

Please help stuck on the second part of the spreadsheet!! image text in transcribed
image text in transcribed
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 Item Debit Credit Debit Credit Date July 1 Bal., 30,000 units, 10% completed 31 Direct materials, 155,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 149,000 units 31 Bal.2 units, 45% completed 620,000 90,000 33,272 121,800 741,800 831,800 865,072 ? Instructions 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. JALI UNITS Whole Unite Equivalent Units Direct Materials Conversion Units charged to production Inventory in process, July 1 Received from materials toreroom Total units accounted for by the Roasting Department 30,000 155.000 195,00 Units to be assigned cost Inventory in process, July 1 ( 109). complete) Started and completed in Aly Transferred to Packing Department in July Inventory in process, July 31 ( 45 complete Total units to be assigned costs 30,000 11.000 149,000 319.000 135,00D o IL1,000 111,000 340,000 ISS,000 27.000 119,00 140,000 16.200 16,200 COSTS Direct Materials Costs Conversion Total Cost per equivalent unit: Total costs for July in Roasting Department Total equivalent units Cost per equivalent unit 120,000 155.000 4.00 123,112 12, 200 76 Costs assigned to production Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Roasting Department 121, 100 243, 272 su 3072 D Costs allocated to completed and partially completed units: Inventory in process, July 1 To complete inventory in process, July 1 Cost of completed July 1 work in process Started and completed in July Transferred to Packing Department in July Inventory in process, July 31 Total costs assigned by the Roasting Department 476,000 144,000 20, 520 90,440 12312 124.300 20.520 142.920 SW, 440 709, 740 156,312 sus, 072 2. July 1, work in process Less direct materials Conversion costs Conversion cost equivalent units Units in process Percent complete Equivalent units Direct Materials Conversion July costs per equivalent unit (from part 1) June costs per equivalent unit: Total costs in Work in Process, July 1 Total equivalent units Cost per equivalent unit increase (decrease) 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 Item Debit Credit Debit Credit Date July 1 Bal., 30,000 units, 10% completed 31 Direct materials, 155,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 149,000 units 31 Bal.2 units, 45% completed 620,000 90,000 33,272 121,800 741,800 831,800 865,072 ? Instructions 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. JALI UNITS Whole Unite Equivalent Units Direct Materials Conversion Units charged to production Inventory in process, July 1 Received from materials toreroom Total units accounted for by the Roasting Department 30,000 155.000 195,00 Units to be assigned cost Inventory in process, July 1 ( 109). complete) Started and completed in Aly Transferred to Packing Department in July Inventory in process, July 31 ( 45 complete Total units to be assigned costs 30,000 11.000 149,000 319.000 135,00D o IL1,000 111,000 340,000 ISS,000 27.000 119,00 140,000 16.200 16,200 COSTS Direct Materials Costs Conversion Total Cost per equivalent unit: Total costs for July in Roasting Department Total equivalent units Cost per equivalent unit 120,000 155.000 4.00 123,112 12, 200 76 Costs assigned to production Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Roasting Department 121, 100 243, 272 su 3072 D Costs allocated to completed and partially completed units: Inventory in process, July 1 To complete inventory in process, July 1 Cost of completed July 1 work in process Started and completed in July Transferred to Packing Department in July Inventory in process, July 31 Total costs assigned by the Roasting Department 476,000 144,000 20, 520 90,440 12312 124.300 20.520 142.920 SW, 440 709, 740 156,312 sus, 072 2. July 1, work in process Less direct materials Conversion costs Conversion cost equivalent units Units in process Percent complete Equivalent units Direct Materials Conversion July costs per equivalent unit (from part 1) June costs per equivalent unit: Total costs in Work in Process, July 1 Total equivalent units Cost per equivalent unit increase (decrease)

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

Using Financial Accounting

Authors: Carl S. Warren, Jeff Jones, Amanda Farmer

1st Edition

0357507851, 9780357507858

More Books

Students also viewed these Accounting questions

Question

What is management growth? What are its factors

Answered: 1 week ago