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. Date Item Debit Credit Balance Debit Credit July 1 Bal., 7,600 units, 1/5 completed 12,920 31 Direct materials, 342,000 units 581,400 594,320 31 Direct labor 111,000 705,320 31 Factory overhead 27,704 733,024 31 Goods transferred, 343,000 units ? 31 Bal., ? 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 Unit Information Units charged to production: Inventory in process, July 1 fill in the blank 330807fb507d015_1 Received from materials storeroom fill in the blank 330807fb507d015_2 Total units accounted for by the Roasting Department fill in the blank 330807fb507d015_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 330807fb507d015_4 fill in the blank 330807fb507d015_5 fill in the blank 330807fb507d015_6 Started and completed in July fill in the blank 330807fb507d015_7 fill in the blank 330807fb507d015_8 fill in the blank 330807fb507d015_9 Transferred to Packing Department in July fill in the blank 330807fb507d015_10 fill in the blank 330807fb507d015_11 fill in the blank 330807fb507d015_12 Inventory in process, July 31 fill in the blank 330807fb507d015_13 fill in the blank 330807fb507d015_14 fill in the blank 330807fb507d015_15 Total units to be assigned costs fill in the blank 330807fb507d015_16 fill in the blank 330807fb507d015_17 fill in the blank 330807fb507d015_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 330807fb507d015_19 $fill in the blank 330807fb507d015_20 Total equivalent units fill in the blank 330807fb507d015_21 fill in the blank 330807fb507d015_22 Cost per equivalent unit $fill in the blank 330807fb507d015_23 $fill in the blank 330807fb507d015_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 330807fb507d015_25 Costs incurred in July fill in the blank 330807fb507d015_26 Total costs accounted for by the Roasting Department $fill in the blank 330807fb507d015_27 Costs allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 330807fb507d015_28 To complete inventory in process, July 1 $fill in the blank 330807fb507d015_29 $fill in the blank 330807fb507d015_30 fill in the blank 330807fb507d015_31 Cost of completed July 1 work in process $fill in the blank 330807fb507d015_32 Started and completed in July fill in the blank 330807fb507d015_33 fill in the blank 330807fb507d015_34 fill in the blank 330807fb507d015_35 Transferred to Molding Department in July $fill in the blank 330807fb507d015_36 Inventory in process, July 31 fill in the blank 330807fb507d015_37 fill in the blank 330807fb507d015_38 fill in the blank 330807fb507d015_39 Total costs assigned by the Roasting Department $fill in the blank 330807fb507d015_40 2. Assuming that the July 1 work in process inventory includes $12,160 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February 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 afcec109805a071_2 Change in conversion cost per equivalent unit $fill in the blank afcec109805a071_4

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. Date Item Debit Credit Balance Debit Credit July 1 Bal., 7,600 units, 1/5 completed 12,920 31 Direct materials, 342,000 units 581,400 594,320 31 Direct labor 111,000 705,320 31 Factory overhead 27,704 733,024 31 Goods transferred, 343,000 units ? 31 Bal., ? 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 Unit Information Units charged to production: Inventory in process, July 1 fill in the blank 330807fb507d015_1 Received from materials storeroom fill in the blank 330807fb507d015_2 Total units accounted for by the Roasting Department fill in the blank 330807fb507d015_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 330807fb507d015_4 fill in the blank 330807fb507d015_5 fill in the blank 330807fb507d015_6 Started and completed in July fill in the blank 330807fb507d015_7 fill in the blank 330807fb507d015_8 fill in the blank 330807fb507d015_9 Transferred to Packing Department in July fill in the blank 330807fb507d015_10 fill in the blank 330807fb507d015_11 fill in the blank 330807fb507d015_12 Inventory in process, July 31 fill in the blank 330807fb507d015_13 fill in the blank 330807fb507d015_14 fill in the blank 330807fb507d015_15 Total units to be assigned costs fill in the blank 330807fb507d015_16 fill in the blank 330807fb507d015_17 fill in the blank 330807fb507d015_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 330807fb507d015_19 $fill in the blank 330807fb507d015_20 Total equivalent units fill in the blank 330807fb507d015_21 fill in the blank 330807fb507d015_22 Cost per equivalent unit $fill in the blank 330807fb507d015_23 $fill in the blank 330807fb507d015_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 330807fb507d015_25 Costs incurred in July fill in the blank 330807fb507d015_26 Total costs accounted for by the Roasting Department $fill in the blank 330807fb507d015_27 Costs allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 330807fb507d015_28 To complete inventory in process, July 1 $fill in the blank 330807fb507d015_29 $fill in the blank 330807fb507d015_30 fill in the blank 330807fb507d015_31 Cost of completed July 1 work in process $fill in the blank 330807fb507d015_32 Started and completed in July fill in the blank 330807fb507d015_33 fill in the blank 330807fb507d015_34 fill in the blank 330807fb507d015_35 Transferred to Molding Department in July $fill in the blank 330807fb507d015_36 Inventory in process, July 31 fill in the blank 330807fb507d015_37 fill in the blank 330807fb507d015_38 fill in the blank 330807fb507d015_39 Total costs assigned by the Roasting Department $fill in the blank 330807fb507d015_40 2. Assuming that the July 1 work in process inventory includes $12,160 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February 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 afcec109805a071_2 Change in conversion cost per equivalent unit $fill in the blank afcec109805a071_4

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.
Date	Item	Debit	Credit	Balance
Debit	Credit
July	1	Bal., 7,600 units, 1/5 completed			12,920
	31	Direct materials, 342,000 units	581,400			594,320
	31	Direct labor	111,000			705,320
	31	Factory overhead	27,704			733,024
	31	Goods transferred, 343,000 units		?
	31	Bal., ? 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
Unit Information
Units charged to production:
Inventory in process, July 1	fill in the blank 330807fb507d015_1
Received from materials storeroom	fill in the blank 330807fb507d015_2
Total units accounted for by the Roasting Department	fill in the blank 330807fb507d015_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, July 1	fill in the blank 330807fb507d015_4	fill in the blank 330807fb507d015_5	fill in the blank 330807fb507d015_6
Started and completed in July	fill in the blank 330807fb507d015_7	fill in the blank 330807fb507d015_8	fill in the blank 330807fb507d015_9
Transferred to Packing Department in July	fill in the blank 330807fb507d015_10	fill in the blank 330807fb507d015_11	fill in the blank 330807fb507d015_12
Inventory in process, July 31	fill in the blank 330807fb507d015_13	fill in the blank 330807fb507d015_14	fill in the blank 330807fb507d015_15
Total units to be assigned costs	fill in the blank 330807fb507d015_16	fill in the blank 330807fb507d015_17	fill in the blank 330807fb507d015_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for July in Roasting Department	$fill in the blank 330807fb507d015_19	$fill in the blank 330807fb507d015_20
Total equivalent units	fill in the blank 330807fb507d015_21	fill in the blank 330807fb507d015_22
Cost per equivalent unit	$fill in the blank 330807fb507d015_23	$fill in the blank 330807fb507d015_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, July 1			$fill in the blank 330807fb507d015_25
Costs incurred in July			fill in the blank 330807fb507d015_26
Total costs accounted for by the Roasting Department			$fill in the blank 330807fb507d015_27
Costs allocated to completed and partially completed units:
Inventory in process, July 1 balance			$fill in the blank 330807fb507d015_28
To complete inventory in process, July 1	$fill in the blank 330807fb507d015_29	$fill in the blank 330807fb507d015_30	fill in the blank 330807fb507d015_31
Cost of completed July 1 work in process			$fill in the blank 330807fb507d015_32
Started and completed in July	fill in the blank 330807fb507d015_33	fill in the blank 330807fb507d015_34	fill in the blank 330807fb507d015_35
Transferred to Molding Department in July			$fill in the blank 330807fb507d015_36
Inventory in process, July 31	fill in the blank 330807fb507d015_37	fill in the blank 330807fb507d015_38	fill in the blank 330807fb507d015_39
Total costs assigned by the Roasting Department			$fill in the blank 330807fb507d015_40

2. Assuming that the July 1 work in process inventory includes $12,160 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February 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 afcec109805a071_2
Change in conversion cost per equivalent unit		$fill in the blank afcec109805a071_4

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