steps 1 through 5

ACC 121 Chapter 20 - Cost of Production Report Blank Template 1. Use the average cost method with the following data The increases to Work in Process Roasting Department for Highlands Coffee Company for Mayas well as information condeming production are as follows: Work in process, May 1, 900 pounds, 20% completed $11,270 Coffee beans added during May. 55,500 pounds 398,810 Conversion costs during May 163,420 Work in process, May 31, 500 pounds, 90% completed Goods finished during May, 55,900 pounds Step 1: Units to be accounted for in Production Whole Units Beginning Work in Process Inventory +Units Started during the Period = Total Units to Account for Step 2. Units to be Assigned Costs a. Whole Units % Complete b. Equivalent Units Completed and Transferred - % Complete +Ending Work in Process Inventory = Units to be Assigned Costs Step 3: Total Manufacturing Costs for the Period Beginning Work in Process + Direct Materials Added + Direct Labor Added + Factory Overhead Added = Total Manufacturing Costs Step 4: Cost per Equivalent Unit Total Manufacturing Costs Equivalent Units = Cost per Equivalent Unit Step 5: Assign Costs Between Completed and Partially completed Units Completed and Transferred (Whole Units - 9 Complete) - Cost per equivalent unit OR Equivalent Units * Cost per Equivalent Unit +Ending Work in Process (Whole Units % Complete) Cost per equivalent unit OR Equivalent Units Cost per Equivalent Unit = Total Assioned Costs