Question: Please solve using the Weighted average method Dip in coffee roasts and packs coffee beans. Their method begins at the Roasting Department. The coffee beans
Please solve using the Weighted average method
Dip in coffee roasts and packs coffee beans. Their method begins at the Roasting Department. The coffee beans are then transferred to the Packing center. The following is a partial work in process account of the Roasting Department at December 31:
| ACCOUNT Partial Work in Process-Roasting Department | ACCOUNT NO. | |||||||
| Date | Item | Debit | Credit | Balance | ||||
| Debit | Credit | |||||||
| Dec. | 1 | Ballance 14,300 units, 30% completed | 58,201 | |||||
| 31 | Direct materials, 247,400 units | 571,494 | 629,695 | |||||
| 31 | Direct labor | 326,456 | 956,151 | |||||
| 31 | Factory overhead | 469,779 | 1,425,930 | |||||
| 31 | Goods transferred, 249,500 units | ? | ? | |||||
| 31 | Ballance ? units, 80% completed | ? | ||||||
Create a cost of production report, only using the weighted average method, and solve the missing amounts sections for Work in Process, Roasting Department. Assume that direct materials are placed in process during production.
| Dip in Coffee Co. | ||
| Cost of Production Report, Roasting Department | ||
| For the Month Ended December 31 | ||
| Unit Information | ||
| Units charged for production: | ||
| Inventory in process, December 1 | ? | |
| Received from material storeroom | ? | |
| Total units accounted for by the Roasting Department | ? | |
| Units to be assigned a cost: | ||
| Whole Units | Equivalent Units of Production | |
| Moved to Packing Department in December | ? | ? |
| Inventory in process, December 31 | ? | ? |
| Total units to be assigned a cost | ? | ? |
| Cost Information | ||
| Cost per equivalent unit: | ||
| Costs | ||
| Total costs for December in Roasting Department | ? | |
| Total equivalent units | ? | |
| Cost per equivalent unit | ? | |
| Costs assigned to production: | ||
| Inventory in process, December 1 | ? | |
| Costs incurred for December | ? | |
| Total costs accounted for by the Roasting Department | ? | |
| Costs allocated for completed and partially completed units: | ? | |
| Transferred to Packing Department in December | ? | |
| Inventory in process, December 31 | ? | |
| Total costs assigned by the Roasting Department | ? | |
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