Arabica Highland Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31: Date July ACCOUNT Work in Process-Roasting Department Item 1 Bal., 4,400 units, 4/5 completed 31 Direct materials, 176,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 177,000 units 31 Bal., 2 units, 2/5 completed Required: Debit 475,200 97,900 24,488 Credit ACCOUNT NO. Debit Balance 14,256 489,456 587,356 611,844 ? Credit 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to two decimal places. Arabica Highland Coffee Company Cost of Production Report-Roasting Department

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question
100%
Arabica Highland Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31:
Units charged to production:
Inventory in process, July 1
Received from materials storeroom
Arabica Highland Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Unit Information.
Total units accounted for by the Roasting Department
Units to be assigned costs:
Inventory in process, July 1
Started and completed in July
Transferred to Packing Department in July
Inventory in process, July 31
Total units to be assigned costs
Costs per equivalent unit:
Total costs for July in Roasting Department
Total equivalent units
Cost per equivalent unit
Whole Units
Equivalent Units
Cost Information
Direct Materials
Direct Materials
Conversion
Conversion
Transcribed Image Text:Units charged to production: Inventory in process, July 1 Received from materials storeroom Arabica Highland Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information. Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, July 1 Started and completed in July Transferred to Packing Department in July Inventory in process, July 31 Total units to be assigned costs Costs per equivalent unit: Total costs for July in Roasting Department Total equivalent units Cost per equivalent unit Whole Units Equivalent Units Cost Information Direct Materials Direct Materials Conversion Conversion
Arabica Highland Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting
Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31:
Date
July
ACCOUNT Work in Process-Roasting Department
Item
1 Bal., 4,400 units, 4/5 completed.
31 Direct materials, 176,000 units
31 Direct labor
31 Factory overhead
31 Goods transferred, 177,000 units
31 Bal., 2 units, 2/5 completed
Required:
Units charged to production:
Debit
Inventory in process, July 1
475,200
97,900
24,488
Credit
ACCOUNT NO.
Debit
Balance
Unit Information
14,256
489,456
587,356
611,844
1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "0". When computing cost
per equivalent units, round to two decimal places.
?
Credit
Arabica Highland Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Transcribed Image Text:Arabica Highland Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31: Date July ACCOUNT Work in Process-Roasting Department Item 1 Bal., 4,400 units, 4/5 completed. 31 Direct materials, 176,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 177,000 units 31 Bal., 2 units, 2/5 completed Required: Units charged to production: Debit Inventory in process, July 1 475,200 97,900 24,488 Credit ACCOUNT NO. Debit Balance Unit Information 14,256 489,456 587,356 611,844 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to two decimal places. ? Credit Arabica Highland Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education