Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 900 pounds, 20% completed     $3,312*   *Direct materials (900 X $3.40) $3,060       Conversion (900 X 20% X $1.40) 252       $3,312     Coffee beans added during August, 28,000 pounds     93,800 Conversion costs during August     42,240 Work in process, August 31, 1,400 pounds, 60% completed     ? Goods finished during August, 27,500 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 is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Unit Information Units charged to production: Inventory in process, August 1   Received from materials storeroom   Total units accounted for by the Roasting Department   Units to be assigned costs:     Equivalent Units   Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1       Started and completed in August       Transferred to finished goods in August       Inventory in process, August 31       Total units to be assigned costs       Cost Information Cost per equivalent unit:   Direct Materials Conversion Total costs for August in Roasting Department $ $ Total equivalent units     Cost per equivalent unit (2) $ $ Costs assigned to production:   Direct Materials Conversion Total Inventory in process, August 1     $ Costs incurred in August       Total costs accounted for by the Roasting Department     $ Costs allocated to completed and partially completed units:       Inventory in process, August 1 balance     $ To complete inventory in process, August 1 $ $   Cost of completed August 1 work in process     $ Started and completed in August       Transferred to finished goods in August (3)     $ Inventory in process, August 31 (4)       Total costs assigned by the Roasting Department     $         b.  Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to the nearest cent.   Increase or Decrease Amount Change in direct materials cost per equivalent unit   $ Change in conversion cost per equivalent unit   $

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Cost of Production Report

The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows:

Work in process, August 1, 900 pounds, 20% completed     $3,312*
  *Direct materials (900 X $3.40) $3,060    
  Conversion (900 X 20% X $1.40) 252    
  $3,312    
Coffee beans added during August, 28,000 pounds     93,800
Conversion costs during August     42,240
Work in process, August 31, 1,400 pounds, 60% completed     ?
Goods finished during August, 27,500 pounds     ?

All direct materials are placed in process at the beginning of production.

a.  Prepare a cost of production report, presenting the following computations:

  1. Direct materials and conversion equivalent units of production for August
  2. Direct materials and conversion costs per equivalent unit for August
  3. Cost of goods finished during August
  4. Cost of work in process at August 31

If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places.

Morning Brew Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended August 31
Unit Information
Units charged to production:
Inventory in process, August 1  
Received from materials storeroom  
Total units accounted for by the Roasting Department  
Units to be assigned costs:
    Equivalent Units
  Whole Units Direct Materials (1) Conversion (1)
Inventory in process, August 1      
Started and completed in August      
Transferred to finished goods in August      
Inventory in process, August 31      
Total units to be assigned costs      
Cost Information
Cost per equivalent unit:
  Direct Materials Conversion
Total costs for August in Roasting Department $ $
Total equivalent units    
Cost per equivalent unit (2) $ $
Costs assigned to production:
  Direct Materials Conversion Total
Inventory in process, August 1     $
Costs incurred in August      
Total costs accounted for by the Roasting Department     $
Costs allocated to completed and partially completed units:      
Inventory in process, August 1 balance     $
To complete inventory in process, August 1 $ $  
Cost of completed August 1 work in process     $
Started and completed in August      
Transferred to finished goods in August (3)     $
Inventory in process, August 31 (4)      
Total costs assigned by the Roasting Department     $
       

b.  Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to the nearest cent.

  Increase or Decrease Amount
Change in direct materials cost per equivalent unit   $
Change in conversion cost per equivalent unit   $
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