eBookCost of Production ReportThe debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerningproduction, are as follows:Work in process, August 1, 900 pounds, 30% completed*Direct materials (900 x $3.00)Conversion (900 × 30% x $1.20)Coffee beans added during August, 28,000 poundsConversion costs during August$3,024*$2,700324$3,02482,60036,309??Work in process, August 31, 1,400 pounds, 50% completedGoods finished during August, 27,500 poundsAll 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 August2. Direct materials and conversion costs per equivalent unit for August3. Cost of goods finished during August4. Cost of work in process at August 311If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to the nearest cent.Morning Brew Coffee CompanyCheck My WorkPreviousNext

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Answered: eBook Cost of Production Report The…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 4P

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The debits to Work in Process—Roasting Department for Daybreak Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,100 pounds, 50% completed $3,960* *Direct materials (1,100 X $3) $3,300 Conversion (1,100 X 50% X $1.2) $660 $3,960 Coffee beans added during August, 34,000 pounds $100,300 Conversion costs during August 43,745 Work in process, August 31, 1,800 pounds, 50% completed ? Goods finished during August, 33,300 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 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ b. Compute and…
The debits to Work in Process—Roasting Department for Daybreak Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,200 pounds, 30% completed $5,970* *Direct materials (1,200 × $4.15) $4,980 Conversion (1,200 × 30% × $2.75) 990 $5,970 Coffee beans added during August, 19,800 pounds $81,180 Conversion costs during August 59,334 Work in process, August 31, 900 pounds, 80% completed ? Goods finished during August, 20,100 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 box does not require an entry, leave it…
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, 600 pounds, 30% completed $3,222* *Direct materials (600 X $4.80) $2,880 Conversion (600 X 30% X $1.90) 342 $3,222 Coffee beans added during August, 19,000 pounds 90,250 Conversion costs during August 37,840 Work in process, August 31, 1,000 pounds, 50% completed ? Goods finished during August, 18,600 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…
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, 600 pounds, 30% completed $3,222* *Direct materials (600 X $4.80) $2,880 Conversion (600 X 30% X $1.90) 342 $3,222 Coffee beans added during August, 19,000 pounds 90,250 Conversion costs during August 37,840 Work in process, August 31, 1,000 pounds, 50% completed ? Goods finished during August, 18,600 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…
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, 1,000 pounds, 50% completed $5,750* *Direct materials (1,000 X $4.8) $4,800 Conversion (1,000 X 50% X $1.9) $950 $5,750 Coffee beans added during August, 31,000 pounds 147,250 Conversion costs during August 60,760 Work in process, August 31, 1,600 pounds, 30% completed ? Goods finished during August, 30,400 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…
The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Line Item Description Amount Amount Work in process, August 1, 600 pounds, 40% completed $2,088* *Direct materials (600 × $3.00) $1,800 Conversion (600 × 40% × $1.20) 288 Total $2,088 Coffee beans added during August, 19,000 pounds 56,050 Conversion costs during August 24,258 Work in process, August 31, 1,000 pounds, 30% completed ? Goods finished during August, 18,600 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…
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, 600 pounds, 40% completed $1,884* *Direct materials (600 X $2.7) $1,620 Conversion (600 X 40% X $1.1) $264 $1,884 Coffee beans added during August, 19,000 pounds 50,350 Conversion costs during August 22,512 Work in process, August 31, 1,000 pounds, 40% completed ? Goods finished during August, 18,600 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…
The debits to Work in Process—Roasting Department for Daybreak Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 700 pounds, 30% completed $4,081* *Direct materials (700 X $5.2) $3,640 Conversion (700 X 30% X $2.1) $441 $4,081 Coffee beans added during August, 22,000 pounds $113,300 Conversion costs during August 48,752 Work in process, August 31, 1,100 pounds, 70% completed ? Goods finished during August, 21,600 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 box does not require an entry, leave it blank.…
The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Line Item Description Amount Amount Work in process, August 1, 1,200 pounds, 20% completed $3,504* *Direct materials (1,200 × $2.70) $3,240 Conversion (1,200 × 20% × $1.10) 264 Total $3,504 Coffee beans added during August, 38,000 pounds 100,700 Conversion costs during August 45,072 Work in process, August 31, 2,000 pounds, 30% completed ? Goods finished during August, 37,200 pounds ? All direct materials are placed in process at the beginning of production. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Prepare a cost of production report, presenting the following computations: Direct materials and conversion equivalent units of…
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, 500 pounds, 20% completed $1,350* *Direct materials (500 X $2.50) $1,250 Conversion (500 X 20% X $1.00) 100 $1,350 Coffee beans added during August, 16,000 pounds 39,200 Conversion costs during August 17,688 Work in process, August 31, 800 pounds, 60% completed ? Goods finished during August, 15,700 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…
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, 500 pounds, 10% completed $2,263* *Direct materials (500 × $4.40) $2,200 Conversion (500 × 10% × $1.26) 63 $2,263 Coffee beans added during August, 10,214 pounds 42,899 Conversion costs during August 14,255 Work in process, August 31, 314 pounds, 42% completed ? Goods finished during August, 10,400 pounds ? All direct materials are placed in process at the beginning of production. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Prepare a cost of production report, presenting the following computations: Direct materials and conversion equivalent units of production for August Direct…
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, 700 pounds, 20% completed $ 3,479* *Direct materials (700 X $4.70) $3,290 Conversion (700 X 20% X $1.35) 189 $3,479 Coffee beans added during August, 14,300 pounds 65,780 Conversion costs during August 21,942 Work in process, August 31, 400 pounds, 42% completed ? Goods finished during August, 14,600 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…

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