Costs assigned to production: Direct Total Materials Conversion Inventory in process, August 1 $ Costs incurred in August Total costs accounted for by the Roasting Department osts allocated to completed and partially completed units: Inventory in process, August 1 balance To complete inventory in process, August 1 $4 $4 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 %24
Costs assigned to production: Direct Total Materials Conversion Inventory in process, August 1 $ Costs incurred in August Total costs accounted for by the Roasting Department osts allocated to completed and partially completed units: Inventory in process, August 1 balance To complete inventory in process, August 1 $4 $4 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 %24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Costs assigned to production:
Direct
Total
Materials Conversion
Inventory in process, August 1
$
Costs incurred in August
Total costs accounted for by the Roasting Department
osts allocated to completed and partially completed units:
Inventory in process, August 1 balance
To complete inventory in process, August 1
$4
$4
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
%24
Expert Solution
Solution a)
|
Particular
|
Direct Material |
Conversion |
Total |
|
Inventory in process |
|
|
$3479 |
|
Costs incurred in August |
|
|
87722 |
|
Total cost accounted for by the Roasting Department |
|
|
$91201 |
|
Costs allocated to completed and partially completed units: |
|
|
|
|
Inventory in process, August 1 balance |
|
|
$ 3479 |
|
To complete inventory in process, August 1 |
$ 0 |
$ 840 |
840 |
|
Cost of completed August 1 work-in-progress |
|
|
$ 4319 |
|
Started and completed in August |
63940 |
20850 |
84790 |
|
Transferred to finished goods in August (3) |
|
|
$ 89109 |
|
Inventory in process, August 31(4) |
1840 |
252 |
2092 |
|
Total costs assigned by the Roasting Department |
|
|
$ 91201 |
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