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equired: 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 nits charged to production: Inventory in process, March 1 Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 Received from materials storeroom Total units accounted for by the Roasting Department nits to be assigned costs: Inventory in process, March 1 Started and completed in March Transferred to Packing Department in March Inventory in process, March 31 otal units to be assigned costs Whole Units Equivalent Units Direct Materials Equivalent Units Conversion

equired: 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 nits charged to production: Inventory in process, March 1 Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 Received from materials storeroom Total units accounted for by the Roasting Department nits to be assigned costs: Inventory in process, March 1 Started and completed in March Transferred to Packing Department in March Inventory in process, March 31 otal units to be assigned costs Whole Units Equivalent Units Direct Materials Equivalent Units Conversion

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 2PA: Cost of production report Hana Coffee Company roasts and packs coffee beans. The process begins by...
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Transferred to finished goods in March Inventory in process, March 31 Total costs assigned by the Roasting Department 2. Assuming that the March 1 work in process inventory includes $7,360 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and March. If required, round your answers two decimal places. Increase or Decrease Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Amount
Transcribed Image Text:Transferred to finished goods in March Inventory in process, March 31 Total costs assigned by the Roasting Department 2. Assuming that the March 1 work in process inventory includes $7,360 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and March. If required, round your answers two decimal places. Increase or Decrease Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Amount
Cost of Production Report 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 Date Item March 1 Bal., 4,600 units, 2/5 completed 31 Direct materials, 207,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 207,000 units 31 Bal., 2 units, 3/5 completed Costs Units Debit Credit Cost per equivalent unit: Total costs for March in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: 351.900 Units charged to production: Inventory in process, March 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, March 1 Started and completed in March Transferred to Packing Department in March Inventory in process, March 31 Total units to be assigned costs Inventory in process, March 1 Costs incurred in March 66,500 16,668 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. Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 ? Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, March 1 balance. To complete inventory in process, March 1 Cost of completed March 1 work in process Started and completed in March ACCOUNT NO. Balance Balance Debit Credit 8,280 360,180 426,680 443,348 Whole Units ? Costs Equivalent Units Equivalent Units Direct Materials Conversion Direct Materials Conversion Total
Transcribed Image Text:Cost of Production Report 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 Date Item March 1 Bal., 4,600 units, 2/5 completed 31 Direct materials, 207,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 207,000 units 31 Bal., 2 units, 3/5 completed Costs Units Debit Credit Cost per equivalent unit: Total costs for March in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: 351.900 Units charged to production: Inventory in process, March 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, March 1 Started and completed in March Transferred to Packing Department in March Inventory in process, March 31 Total units to be assigned costs Inventory in process, March 1 Costs incurred in March 66,500 16,668 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. Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 ? Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, March 1 balance. To complete inventory in process, March 1 Cost of completed March 1 work in process Started and completed in March ACCOUNT NO. Balance Balance Debit Credit 8,280 360,180 426,680 443,348 Whole Units ? Costs Equivalent Units Equivalent Units Direct Materials Conversion Direct Materials Conversion Total
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