Cost of Production Report 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. Date Item Debit Credit Balance Debit Credit July 1 Bal., 4,900 units, 3/5 completed 15,582 31 Direct materials, 196,000 units 548,800 564,382 31 Direct labor 109,500 673,882 31 Factory overhead 27,434 701,316 31 Goods transferred, 197,000 units ? 31 Bal., ? units, 2/5 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 two decimal places. Arabica Highland Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information Units charged to production: Inventory in process, July 1 fill in the blank 4f7f87024fadf84_1 Received from materials storeroom fill in the blank 4f7f87024fadf84_2 Total units accounted for by the Roasting Department fill in the blank 4f7f87024fadf84_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 4f7f87024fadf84_4 fill in the blank 4f7f87024fadf84_5 fill in the blank 4f7f87024fadf84_6 Started and completed in July fill in the blank 4f7f87024fadf84_7 fill in the blank 4f7f87024fadf84_8 fill in the blank 4f7f87024fadf84_9 Transferred to Packing Department in July fill in the blank 4f7f87024fadf84_10 fill in the blank 4f7f87024fadf84_11 fill in the blank 4f7f87024fadf84_12 Inventory in process, July 31 fill in the blank 4f7f87024fadf84_13 fill in the blank 4f7f87024fadf84_14 fill in the blank 4f7f87024fadf84_15 Total units to be assigned costs fill in the blank 4f7f87024fadf84_16 fill in the blank 4f7f87024fadf84_17 fill in the blank 4f7f87024fadf84_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 4f7f87024fadf84_19 $fill in the blank 4f7f87024fadf84_20 Total equivalent units fill in the blank 4f7f87024fadf84_21 fill in the blank 4f7f87024fadf84_22 Cost per equivalent unit $fill in the blank 4f7f87024fadf84_23 $fill in the blank 4f7f87024fadf84_24 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 4f7f87024fadf84_25 Costs incurred in July fill in the blank 4f7f87024fadf84_26 Total costs accounted for by the Roasting Department $fill in the blank 4f7f87024fadf84_27 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 4f7f87024fadf84_28 To complete inventory in process, July 1 $fill in the blank 4f7f87024fadf84_29 $fill in the blank 4f7f87024fadf84_30 fill in the blank 4f7f87024fadf84_31 Cost of completed July 1 work in process $fill in the blank 4f7f87024fadf84_32 Started and completed in July fill in the blank 4f7f87024fadf84_33 fill in the blank 4f7f87024fadf84_34 fill in the blank 4f7f87024fadf84_35 Transferred to Packing Department in July $fill in the blank 4f7f87024fadf84_36 Inventory in process, July 31 fill in the blank 4f7f87024fadf84_37 fill in the blank 4f7f87024fadf84_38 fill in the blank 4f7f87024fadf84_39 Total costs assigned by the Roasting Department $fill in the blank 4f7f87024fadf84_40 2. Assuming that the July 1 work in process inventory includes $13,230 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank 31c649faafba015_2 Change in conversion cost per equivalent unit $fill in the blank

Cost of Production Report 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. Date Item Debit Credit Balance Debit Credit July 1 Bal., 4,900 units, 3/5 completed 15,582 31 Direct materials, 196,000 units 548,800 564,382 31 Direct labor 109,500 673,882 31 Factory overhead 27,434 701,316 31 Goods transferred, 197,000 units ? 31 Bal., ? units, 2/5 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 two decimal places. Arabica Highland Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information Units charged to production: Inventory in process, July 1 fill in the blank 4f7f87024fadf84_1 Received from materials storeroom fill in the blank 4f7f87024fadf84_2 Total units accounted for by the Roasting Department fill in the blank 4f7f87024fadf84_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 4f7f87024fadf84_4 fill in the blank 4f7f87024fadf84_5 fill in the blank 4f7f87024fadf84_6 Started and completed in July fill in the blank 4f7f87024fadf84_7 fill in the blank 4f7f87024fadf84_8 fill in the blank 4f7f87024fadf84_9 Transferred to Packing Department in July fill in the blank 4f7f87024fadf84_10 fill in the blank 4f7f87024fadf84_11 fill in the blank 4f7f87024fadf84_12 Inventory in process, July 31 fill in the blank 4f7f87024fadf84_13 fill in the blank 4f7f87024fadf84_14 fill in the blank 4f7f87024fadf84_15 Total units to be assigned costs fill in the blank 4f7f87024fadf84_16 fill in the blank 4f7f87024fadf84_17 fill in the blank 4f7f87024fadf84_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 4f7f87024fadf84_19 $fill in the blank 4f7f87024fadf84_20 Total equivalent units fill in the blank 4f7f87024fadf84_21 fill in the blank 4f7f87024fadf84_22 Cost per equivalent unit $fill in the blank 4f7f87024fadf84_23 $fill in the blank 4f7f87024fadf84_24 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 4f7f87024fadf84_25 Costs incurred in July fill in the blank 4f7f87024fadf84_26 Total costs accounted for by the Roasting Department $fill in the blank 4f7f87024fadf84_27 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 4f7f87024fadf84_28 To complete inventory in process, July 1 $fill in the blank 4f7f87024fadf84_29 $fill in the blank 4f7f87024fadf84_30 fill in the blank 4f7f87024fadf84_31 Cost of completed July 1 work in process $fill in the blank 4f7f87024fadf84_32 Started and completed in July fill in the blank 4f7f87024fadf84_33 fill in the blank 4f7f87024fadf84_34 fill in the blank 4f7f87024fadf84_35 Transferred to Packing Department in July $fill in the blank 4f7f87024fadf84_36 Inventory in process, July 31 fill in the blank 4f7f87024fadf84_37 fill in the blank 4f7f87024fadf84_38 fill in the blank 4f7f87024fadf84_39 Total costs assigned by the Roasting Department $fill in the blank 4f7f87024fadf84_40 2. Assuming that the July 1 work in process inventory includes $13,230 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank 31c649faafba015_2 Change in conversion cost per equivalent unit $fill in the blank

Name: Cost of Production Report Arabica Highland Coffee Company roasts and p
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Description: Cost of Production Report 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 Departmen

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Cost of Production Report

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.
Date	Item	Debit	Credit	Balance
Debit	Credit
July	1	Bal., 4,900 units, 3/5 completed			15,582
	31	Direct materials, 196,000 units	548,800			564,382
	31	Direct labor	109,500			673,882
	31	Factory overhead	27,434			701,316
	31	Goods transferred, 197,000 units		?
	31	Bal., ? units, 2/5 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 two decimal places.

Arabica Highland Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Unit Information
Units charged to production:
Inventory in process, July 1	fill in the blank 4f7f87024fadf84_1
Received from materials storeroom	fill in the blank 4f7f87024fadf84_2
Total units accounted for by the Roasting Department	fill in the blank 4f7f87024fadf84_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, July 1	fill in the blank 4f7f87024fadf84_4	fill in the blank 4f7f87024fadf84_5	fill in the blank 4f7f87024fadf84_6
Started and completed in July	fill in the blank 4f7f87024fadf84_7	fill in the blank 4f7f87024fadf84_8	fill in the blank 4f7f87024fadf84_9
Transferred to Packing Department in July	fill in the blank 4f7f87024fadf84_10	fill in the blank 4f7f87024fadf84_11	fill in the blank 4f7f87024fadf84_12
Inventory in process, July 31	fill in the blank 4f7f87024fadf84_13	fill in the blank 4f7f87024fadf84_14	fill in the blank 4f7f87024fadf84_15
Total units to be assigned costs	fill in the blank 4f7f87024fadf84_16	fill in the blank 4f7f87024fadf84_17	fill in the blank 4f7f87024fadf84_18
Cost Information
Costs per equivalent unit:
	Direct Materials	Conversion
Total costs for July in Roasting Department	$fill in the blank 4f7f87024fadf84_19	$fill in the blank 4f7f87024fadf84_20
Total equivalent units	fill in the blank 4f7f87024fadf84_21	fill in the blank 4f7f87024fadf84_22
Cost per equivalent unit	$fill in the blank 4f7f87024fadf84_23	$fill in the blank 4f7f87024fadf84_24
Costs charged to production:
	Direct Materials	Conversion	Total
Inventory in process, July 1			$fill in the blank 4f7f87024fadf84_25
Costs incurred in July			fill in the blank 4f7f87024fadf84_26
Total costs accounted for by the Roasting Department			$fill in the blank 4f7f87024fadf84_27
Cost allocated to completed and partially completed units:
Inventory in process, July 1 balance			$fill in the blank 4f7f87024fadf84_28
To complete inventory in process, July 1	$fill in the blank 4f7f87024fadf84_29	$fill in the blank 4f7f87024fadf84_30	fill in the blank 4f7f87024fadf84_31
Cost of completed July 1 work in process			$fill in the blank 4f7f87024fadf84_32
Started and completed in July	fill in the blank 4f7f87024fadf84_33	fill in the blank 4f7f87024fadf84_34	fill in the blank 4f7f87024fadf84_35
Transferred to Packing Department in July			$fill in the blank 4f7f87024fadf84_36
Inventory in process, July 31	fill in the blank 4f7f87024fadf84_37	fill in the blank 4f7f87024fadf84_38	fill in the blank 4f7f87024fadf84_39
Total costs assigned by the Roasting Department			$fill in the blank 4f7f87024fadf84_40

2. Assuming that the July 1 work in process inventory includes $13,230 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit		$fill in the blank 31c649faafba015_2
Change in conversion cost per equivalent unit		$fill in the blank 31c649faafba015_4

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