Drive - Google DriveX 4 My Drive - Google DriveFront Desk Operations 2020 - Go XtakeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3falseflixo TVCC Email☆ TpAshP My Math Lab Log In to CanvasMathway | Calculus...N Netflix Cengage Login* LoginReading listCost of Production ReportArabica Highland Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beansare then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31:ACCOUNT Work in Process-Roasting DepartmentACCOUNT NO.BalanceDateItemDebitCreditDebitCreditJuly1 Bal., 4,900 units, 2/5 completed16,46431 Direct materials, 196,000 units607,600624,06431 Direct labor126,800750,86431 Factory overhead31,728782,59231 Goods transferred, 197,000 units31 Bal., ? units, 4/5 completedRequired: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 equivalentunits, round to two decimal places.Arabica Highland Coffee CompanyCost of Production Report-Roasting DepartmentFor the Month Ended July 31Unit Information - My Drive - Google Drive4 My Drive - Google DriveFront Desk Operations 2020 - Go X +ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3Dfalse* TpNetflix0z TVCC EmailP My Math LabLog In to CanvasX Mathway |Calculus...N Netflix . Cengage Login* Login国ReadingDirectTotalMaterials ConversionInventory in process, July 1Costs incurred in JulyTotal costs accounted for by the Roasting DepartmentCost allocated to completed and partially completed units:Inventory in process, July 1 balanceTo complete inventory in process, July 1Cost of completed July 1 work in processStarted and completed in July$4Transferred to Packing Department in JulyInventory in process, July 31$4Total costs assigned by the Roasting Department2. Assuming that the July 1 work in process inventory includes $14,700 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials andconversion between June and July. If required, round your answers to the nearest cent.AmountIncrease or DecreaseChange in direct materials cost per equivalent unitChange in conversion cost per equivalent unitt分%24%24%24%24%24

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To prepare the production cost report, firstly, equivalent units are determined and then the total…

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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: ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit July 1 Bal., 4,900 units, 2/5 completed 16,464 31 Direct materials, 196,000 units 607,600 624,064 31 Direct labor 126,800 750,864 31 Factory overhead 31,728 782,592 31 Goods transferred, 197,000 units 31 Bal., ? units, 4/5 completed zequired: -. 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 nits, round to two decimal places.

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: ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit July 1 Bal., 4,900 units, 2/5 completed 16,464 31 Direct materials, 196,000 units 607,600 624,064 31 Direct labor 126,800 750,864 31 Factory overhead 31,728 782,592 31 Goods transferred, 197,000 units 31 Bal., ? units, 4/5 completed zequired: -. 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 nits, round to two decimal places.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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> Cost of Production Report Lui 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 March 31: ACCOUNT Work in Process-Roasting Department Date Item March 1 Bal., 7,200 units, 3/5 completed 31 Direct materials, 324,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 325,000 units 31 Bal., 2 units, 1/5 completed Debit Credit 810,000 154,500 38,652 ACCOUNT NO. Balance Balance. Debit Credit 20,304 830,304 984,804 1,023,456 Required: 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 the nearest cent.
Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roast- ing Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31, 2014: ACCOUNT Work in Process–Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 1 Bal., 10,500 units, 75% completed 31 Dec. 21,000 267,800 Direct materials, 210,400 units 31 31 Factory overhead 31 246,800 135,700 Direct labor 403,500 168,630 572,130 Goods transferred, 208,900 units ? ? 31 Bal., ? units, 25% completed ? Instructions Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process-Roasting Department.
The debits to Work in Process—Roasting Department for Daybreak Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 700 pounds, 30% completed $4,081* *Direct materials (700 X $5.2) $3,640 Conversion (700 X 30% X $2.1) $441 $4,081 Coffee beans added during August, 22,000 pounds $113,300 Conversion costs during August 48,752 Work in process, August 31, 1,100 pounds, 70% completed ? Goods finished during August, 21,600 pounds ? All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: Direct materials and conversion equivalent units of production for August Direct materials and conversion costs per equivalent unit for August Cost of goods finished during August Cost of work in process at August 31 If an amount box does not require an entry, leave it blank.…
Betty DeRose, Inc. operates two departments, the handling department a nd the packaging department. During April, the handling department report ed. the following information: work in process, April 1 units started during April work in process, April 30 units 27,000 59,000 34,000 t work in process, April 1 costs added during April total costs. % complete DM 60% 70% The cost of beginning work in process and the costs added during April were as follows: DM $ 25,310 $190,720 $216,030 % complete conversion 85% 40% Conversion $191,175 $208,985 $400, 160 Total cos $216,485 $399,705 $616, 190 Calculate the equivalent units with respect to conversion costs using the FIFO process costing method.
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Lui 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 March 31: ACCOUNT Work in Process—Roasting Department ACCOUNT NO. Date Item Debit Credit BalanceDebit BalanceCredit March 1 Bal., 25,000 units, 10% completed 21,250 31 Direct materials, 600,000 units 450,000 471,250 31 Direct labor 244,600 715,850 31 Factory overhead 415,820 1,131,670 31 Goods transferred, 605,000 units ? 31 Bal., ? units, 45% completed ? Required: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 the nearest cent. Units Whole Units Equivalent UnitsDirect…
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Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Materials Direct labor Overhead June 30 balance Debit Foundational 4-14 (Algo) Work in Process-Mixing Department 27,000 154,205 98,500 116,000 ? Credit Completed and transferred to Finished Goods The June 1 work in process inventory includes 4,100 units with $14,700 in materials cost and $12,300 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 36,600 units were started into production. The June 30 work in process inventory consisted of 9,400 units 100% complete with respect to materials and 50% complete…
Lui 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 March 31: ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Balance Date Item Debit Credit Debit Credit March 1 Bal., 25,000 units, 10% completed 21,250 31 Direct materials, 600,000 units 31 Direct labor 450,000 471,250 31 Factory overhead 244,600 415,820 715,850 1,131,670 31 Goods transferred, 605,000 units 31 Bal., ? units, 45% completed ? Required: 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 the nearest cent. Lui Coffee Company Cost of Production Report-Roasting Department Units Units charged to production: For the Month Ended…