Cost of Production Report: Weighted Average Cost Method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process the Roasting Department at December 31: ACCOUNT Work in Process-Roasting Department Date Item Dec. 1 Bal., 18,800 units, 30% completed 31 Direct materials, 325,200 units 31 Direct labor 31 Factory overhead 31 Goods transferred 328 100 units ACCOUNT NO. Debit Credit 299,184 172,190 247,786 Balance Debit Credit 30,644 329,828 502,018 749,804

Cost of Production Report: Weighted Average Cost Method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process the Roasting Department at December 31: ACCOUNT Work in Process-Roasting Department Date Item Dec. 1 Bal., 18,800 units, 30% completed 31 Direct materials, 325,200 units 31 Direct labor 31 Factory overhead 31 Goods transferred 328 100 units ACCOUNT NO. Debit Credit 299,184 172,190 247,786 Balance Debit Credit 30,644 329,828 502,018 749,804

Name: Cost of Production Report: Weighted Average Cost MethodSunrise Coffee
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Description: Cost of Production Report: Weighted Average Cost MethodSunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the RoastingDepartment, the coffee beans are transferred to the Packing Department. The

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 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…
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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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