Cost of Production Report: Weighted Average Method The increases to Work in Process-Roasting Department for Highlands...
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Cost of Production Report: Weighted Average Method The increases to Work in Process-Roasting Department for Highlands Coffee Company for May as well as information concerning production are as follows: Work in process, May 1, 1,150 pounds, 40% completed Coffee beans added during May, 10,900 pounds $1,700 28,600 12,504 Conversion costs during May Work in process, May 31, 800 pounds, 80% completed Goods finished during May, 11,250 pounds Prepare a cost of production report for May, using the Weighted average method. Assume that direct materials are placed in process during production. If required, round cost per equivalent unit answers to the nearest cent. Highlands Coffee Company Cost of Production Report-Roasting Department Units For the Month Ended May 31 Whole Units Equivalent Units of Production Units charged to production: Inventory in process, May 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Transferred to finished goods in May Inventory in process, May 31 Total units to be assigned costs Costs Cost per equivalent unit: 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 Costs boo doo doo Cost of Production Report: Weighted Average Method The increases to Work in Process-Roasting Department for Highlands Coffee Company for May as well as information concerning production are as follows: Work in process, May 1, 1,150 pounds, 40% completed Coffee beans added during May, 10,900 pounds $1,700 28,600 12,504 Conversion costs during May Work in process, May 31, 800 pounds, 80% completed Goods finished during May, 11,250 pounds Prepare a cost of production report for May, using the Weighted average method. Assume that direct materials are placed in process during production. If required, round cost per equivalent unit answers to the nearest cent. Highlands Coffee Company Cost of Production Report-Roasting Department Units For the Month Ended May 31 Whole Units Equivalent Units of Production Units charged to production: Inventory in process, May 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Transferred to finished goods in May Inventory in process, May 31 Total units to be assigned costs Costs Cost per equivalent unit: 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 Costs boo doo doo
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Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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