Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in

image text in transcribedimage text in transcribedimage text in transcribed

The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 500 pounds, 60% completed *Direct materials (500 X $3.60) Conversion (500 X 60% X $1.40) Coffee beans added during August, 16,000 pounds Conversion costs during August $2,220* $1,800 420 $2,220 56,800 23,700 ? ? Work in process, August 31, 800 pounds, 50% completed Goods finished during August, 15,700 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 "0". For the cost per equivalent unit, round your answer to two decimal places. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Unit Information

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

International Accounting

Authors: Frederick D. Choi, Gary K. Meek

6th edition

131588141, 978-0131588141

Students also viewed these Accounting questions