Cost of Production Report Hana 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., 7,000 units, 4/5 completed 11,340 31 Direct materials, 315,000 units 441,000 452,340 31 Direct labor 75,600 527,940 31 Factory overhead 18,960 546,900 31 Goods transferred, 316,000 units 31 Bal., 2 units, 4/5 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. Hana Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cost of Production Report
Hana 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., 7,000 units, 4/5 completed
11,340
31 Direct materials, 315,000 units
441,000
452,340
31 Direct labor
75,600
527,940
31 Factory overhead
18,960
546,900
31 Goods transferred, 316,000 units
31 Bal., 2 units, 4/5 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.
Hana Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Transcribed Image Text:Cost of Production Report Hana 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., 7,000 units, 4/5 completed 11,340 31 Direct materials, 315,000 units 441,000 452,340 31 Direct labor 75,600 527,940 31 Factory overhead 18,960 546,900 31 Goods transferred, 316,000 units 31 Bal., 2 units, 4/5 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. Hana Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31
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