The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with...
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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, 1,000 pounds, 20% completed Direct materials (1,000 x $4.20) Conversion (1,000 x 20 % x $1.70) ***** $4,200 340 $4,540 Coffee beans added during August, 31,000 pounds Conversion costs during August Work in process, August 31, 1,600 pounds, 60% completed Goods finished during August, 30,400 pounds All direct materials are placed in process at the beginning of production. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions belom Open spreadsheet $4,540* 128,650 56,088 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 unir 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 the nearest cent. If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to the nearest cent. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Units Units charged to production: Inventory in process, August 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total units to be assigned costs Costs Cost per equivalent unit: Total costs for August in Roasting Department i Total equivalent units Whole Units Costs Equivalent Units Equivalent Units Direct Materials (1) Conversion (1) Direct Materials 000 Conversion Total Costs Costs Cost per equivalent unit: Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Costs assigned to production: Inventory in process, August 1 Costs incurred in August Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, August 1 balance Costs Direct Materials Conversion To complete inventory in process, August 1 Cost of completed August 1 work in process Started and completed in August Transferred to finished goods in August (3) Inventory in process, August 31 (4) Total costs assigned by the Roasting Department b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to two decimal places. Increase or Decrease Total Costs Amount Inventory in process, August 11 Costs incurred in August Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, August 1 balance To complete inventory in process, August 1 Cost of completed August 1 work in process Started and completed in August Transferred to finished goods in August (3) Inventory in process, August 31 (4) Total costs assigned by the Roasting Department b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to two decimal places. Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Check My Work 3 more Check My Work usee remaining Increase or Decrease Amount <Previous 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, 1,000 pounds, 20% completed Direct materials (1,000 x $4.20) Conversion (1,000 x 20 % x $1.70) ***** $4,200 340 $4,540 Coffee beans added during August, 31,000 pounds Conversion costs during August Work in process, August 31, 1,600 pounds, 60% completed Goods finished during August, 30,400 pounds All direct materials are placed in process at the beginning of production. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions belom Open spreadsheet $4,540* 128,650 56,088 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 unir 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 the nearest cent. If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to the nearest cent. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Units Units charged to production: Inventory in process, August 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total units to be assigned costs Costs Cost per equivalent unit: Total costs for August in Roasting Department i Total equivalent units Whole Units Costs Equivalent Units Equivalent Units Direct Materials (1) Conversion (1) Direct Materials 000 Conversion Total Costs Costs Cost per equivalent unit: Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Costs assigned to production: Inventory in process, August 1 Costs incurred in August Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, August 1 balance Costs Direct Materials Conversion To complete inventory in process, August 1 Cost of completed August 1 work in process Started and completed in August Transferred to finished goods in August (3) Inventory in process, August 31 (4) Total costs assigned by the Roasting Department b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to two decimal places. Increase or Decrease Total Costs Amount Inventory in process, August 11 Costs incurred in August Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, August 1 balance To complete inventory in process, August 1 Cost of completed August 1 work in process Started and completed in August Transferred to finished goods in August (3) Inventory in process, August 31 (4) Total costs assigned by the Roasting Department b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to two decimal places. Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Check My Work 3 more Check My Work usee remaining Increase or Decrease Amount <Previous
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Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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