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., 5,500 units, 2/5 completed 13,090 31 Direct materials, 247,500 units 544,500 557,590 31 Direct labor 119,900 677,490 31 Factory overhead 29,980 707,470 31 Goods transferred, 248,000 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 Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information Units charged to production: Inventory in process, July 1 fill in the blank 44afd708407300c_1 Received from materials storeroom fill in the blank 44afd708407300c_2 Total units accounted for by the Roasting Department fill in the blank 44afd708407300c_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 44afd708407300c_4 fill in the blank 44afd708407300c_5 fill in the blank 44afd708407300c_6 Started and completed in July fill in the blank 44afd708407300c_7 fill in the blank 44afd708407300c_8 fill in the blank 44afd708407300c_9 Transferred to Packing Department in July fill in the blank 44afd708407300c_10 fill in the blank 44afd708407300c_11 fill in the blank 44afd708407300c_12 Inventory in process, July 31 fill in the blank 44afd708407300c_13 fill in the blank 44afd708407300c_14 fill in the blank 44afd708407300c_15 Total units to be assigned costs fill in the blank 44afd708407300c_16 fill in the blank 44afd708407300c_17 fill in the blank 44afd708407300c_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 44afd708407300c_19 $fill in the blank 44afd708407300c_20 Total equivalent units fill in the blank 44afd708407300c_21 fill in the blank 44afd708407300c_22 Cost per equivalent unit $fill in the blank 44afd708407300c_23 $fill in the blank 44afd708407300c_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 44afd708407300c_25 Costs incurred in July fill in the blank 44afd708407300c_26 Total costs accounted for by the Roasting Department $fill in the blank 44afd708407300c_27 Costs allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 44afd708407300c_28 To complete inventory in process, July 1 $fill in the blank 44afd708407300c_29 $fill in the blank 44afd708407300c_30 fill in the blank 44afd708407300c_31 Cost of completed July 1 work in process $fill in the blank 44afd708407300c_32 Started and completed in July fill in the blank 44afd708407300c_33 fill in the blank 44afd708407300c_34 fill in the blank 44afd708407300c_35 Transferred to Molding Department in July $fill in the blank 44afd708407300c_36 Inventory in process, July 31 fill in the blank 44afd708407300c_37 fill in the blank 44afd708407300c_38 fill in the blank 44afd708407300c_39 Total costs assigned by the Roasting Department $fill in the blank 44afd708407300c_40 2. Assuming that the July 1 work in process inventory includes $11,550 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit Increase $fill in the blank b395430b502c015_2 Change in conversion cost per equivalent unit Decrease $fill in the blank b395430b502c015_4

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., 5,500 units, 2/5 completed 13,090 31 Direct materials, 247,500 units 544,500 557,590 31 Direct labor 119,900 677,490 31 Factory overhead 29,980 707,470 31 Goods transferred, 248,000 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 Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information Units charged to production: Inventory in process, July 1 fill in the blank 44afd708407300c_1 Received from materials storeroom fill in the blank 44afd708407300c_2 Total units accounted for by the Roasting Department fill in the blank 44afd708407300c_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 44afd708407300c_4 fill in the blank 44afd708407300c_5 fill in the blank 44afd708407300c_6 Started and completed in July fill in the blank 44afd708407300c_7 fill in the blank 44afd708407300c_8 fill in the blank 44afd708407300c_9 Transferred to Packing Department in July fill in the blank 44afd708407300c_10 fill in the blank 44afd708407300c_11 fill in the blank 44afd708407300c_12 Inventory in process, July 31 fill in the blank 44afd708407300c_13 fill in the blank 44afd708407300c_14 fill in the blank 44afd708407300c_15 Total units to be assigned costs fill in the blank 44afd708407300c_16 fill in the blank 44afd708407300c_17 fill in the blank 44afd708407300c_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 44afd708407300c_19 $fill in the blank 44afd708407300c_20 Total equivalent units fill in the blank 44afd708407300c_21 fill in the blank 44afd708407300c_22 Cost per equivalent unit $fill in the blank 44afd708407300c_23 $fill in the blank 44afd708407300c_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 44afd708407300c_25 Costs incurred in July fill in the blank 44afd708407300c_26 Total costs accounted for by the Roasting Department $fill in the blank 44afd708407300c_27 Costs allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 44afd708407300c_28 To complete inventory in process, July 1 $fill in the blank 44afd708407300c_29 $fill in the blank 44afd708407300c_30 fill in the blank 44afd708407300c_31 Cost of completed July 1 work in process $fill in the blank 44afd708407300c_32 Started and completed in July fill in the blank 44afd708407300c_33 fill in the blank 44afd708407300c_34 fill in the blank 44afd708407300c_35 Transferred to Molding Department in July $fill in the blank 44afd708407300c_36 Inventory in process, July 31 fill in the blank 44afd708407300c_37 fill in the blank 44afd708407300c_38 fill in the blank 44afd708407300c_39 Total costs assigned by the Roasting Department $fill in the blank 44afd708407300c_40 2. Assuming that the July 1 work in process inventory includes $11,550 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit Increase $fill in the blank b395430b502c015_2 Change in conversion cost per equivalent unit Decrease $fill in the blank b395430b502c015_4

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

ACCOUNT Work in Process—Roasting Department	ACCOUNT NO.
Date	Item	Debit	Credit	Balance
Debit	Credit
July	1	Bal., 5,500 units, 2/5 completed			13,090
	31	Direct materials, 247,500 units	544,500			557,590
	31	Direct labor	119,900			677,490
	31	Factory overhead	29,980			707,470
	31	Goods transferred, 248,000 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 Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Unit Information
Units charged to production:
Inventory in process, July 1	fill in the blank 44afd708407300c_1
Received from materials storeroom	fill in the blank 44afd708407300c_2
Total units accounted for by the Roasting Department	fill in the blank 44afd708407300c_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, July 1	fill in the blank 44afd708407300c_4	fill in the blank 44afd708407300c_5	fill in the blank 44afd708407300c_6
Started and completed in July	fill in the blank 44afd708407300c_7	fill in the blank 44afd708407300c_8	fill in the blank 44afd708407300c_9
Transferred to Packing Department in July	fill in the blank 44afd708407300c_10	fill in the blank 44afd708407300c_11	fill in the blank 44afd708407300c_12
Inventory in process, July 31	fill in the blank 44afd708407300c_13	fill in the blank 44afd708407300c_14	fill in the blank 44afd708407300c_15
Total units to be assigned costs	fill in the blank 44afd708407300c_16	fill in the blank 44afd708407300c_17	fill in the blank 44afd708407300c_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for July in Roasting Department	$fill in the blank 44afd708407300c_19	$fill in the blank 44afd708407300c_20
Total equivalent units	fill in the blank 44afd708407300c_21	fill in the blank 44afd708407300c_22
Cost per equivalent unit	$fill in the blank 44afd708407300c_23	$fill in the blank 44afd708407300c_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, July 1			$fill in the blank 44afd708407300c_25
Costs incurred in July			fill in the blank 44afd708407300c_26
Total costs accounted for by the Roasting Department			$fill in the blank 44afd708407300c_27
Costs allocated to completed and partially completed units:
Inventory in process, July 1 balance			$fill in the blank 44afd708407300c_28
To complete inventory in process, July 1	$fill in the blank 44afd708407300c_29	$fill in the blank 44afd708407300c_30	fill in the blank 44afd708407300c_31
Cost of completed July 1 work in process			$fill in the blank 44afd708407300c_32
Started and completed in July	fill in the blank 44afd708407300c_33	fill in the blank 44afd708407300c_34	fill in the blank 44afd708407300c_35
Transferred to Molding Department in July			$fill in the blank 44afd708407300c_36
Inventory in process, July 31	fill in the blank 44afd708407300c_37	fill in the blank 44afd708407300c_38	fill in the blank 44afd708407300c_39
Total costs assigned by the Roasting Department			$fill in the blank 44afd708407300c_40

2. Assuming that the July 1 work in process inventory includes $11,550 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit	Increase	$fill in the blank b395430b502c015_2
Change in conversion cost per equivalent unit	Decrease	$fill in the blank b395430b502c015_4

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