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, 4/5 completed 14,630 31 Direct materials, 247,500 units 544,500 559,130 31 Direct labor 118,400 677,530 31 Factory overhead 29,560 707,090 31 Goods transferred, 248,000 units ? 31 Bal., ? units, 3/5 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 d57d1af5103d000_1 Received from materials storeroom fill in the blank d57d1af5103d000_2 Total units accounted for by the Roasting Department fill in the blank d57d1af5103d000_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank d57d1af5103d000_4 fill in the blank d57d1af5103d000_5 fill in the blank d57d1af5103d000_6 Started and completed in July fill in the blank d57d1af5103d000_7 fill in the blank d57d1af5103d000_8 fill in the blank d57d1af5103d000_9 Transferred to Packing Department in July fill in the blank d57d1af5103d000_10 fill in the blank d57d1af5103d000_11 fill in the blank d57d1af5103d000_12 Inventory in process, July 31 fill in the blank d57d1af5103d000_13 fill in the blank d57d1af5103d000_14 fill in the blank d57d1af5103d000_15 Total units to be assigned costs fill in the blank d57d1af5103d000_16 fill in the blank d57d1af5103d000_17 fill in the blank d57d1af5103d000_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank d57d1af5103d000_19 $fill in the blank d57d1af5103d000_20 Total equivalent units fill in the blank d57d1af5103d000_21 fill in the blank d57d1af5103d000_22 Cost per equivalent unit $fill in the blank d57d1af5103d000_23 $fill in the blank d57d1af5103d000_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank d57d1af5103d000_25 Costs incurred in July fill in the blank d57d1af5103d000_26 Total costs accounted for by the Roasting Department $fill in the blank d57d1af5103d000_27 Costs allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank d57d1af5103d000_28 To complete inventory in process, July 1 $fill in the blank d57d1af5103d000_29 $fill in the blank d57d1af5103d000_30 fill in the blank d57d1af5103d000_31 Cost of completed July 1 work in process $fill in the blank d57d1af5103d000_32 Started and completed in July fill in the blank d57d1af5103d000_33 fill in the blank d57d1af5103d000_34 fill in the blank d57d1af5103d000_35 Transferred to Molding Department in July $fill in the blank d57d1af5103d000_36 Inventory in process, July 31 fill in the blank d57d1af5103d000_37 fill in the blank d57d1af5103d000_38 fill in the blank d57d1af5103d000_39 Total costs assigned by the Roasting Department $fill in the blank d57d1af5103d000_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 522916fb5075028_2 Change in conversion cost per equivalent unit Decrease $fill in the blank 522916fb5075028_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, 4/5 completed 14,630 31 Direct materials, 247,500 units 544,500 559,130 31 Direct labor 118,400 677,530 31 Factory overhead 29,560 707,090 31 Goods transferred, 248,000 units ? 31 Bal., ? units, 3/5 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 d57d1af5103d000_1 Received from materials storeroom fill in the blank d57d1af5103d000_2 Total units accounted for by the Roasting Department fill in the blank d57d1af5103d000_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank d57d1af5103d000_4 fill in the blank d57d1af5103d000_5 fill in the blank d57d1af5103d000_6 Started and completed in July fill in the blank d57d1af5103d000_7 fill in the blank d57d1af5103d000_8 fill in the blank d57d1af5103d000_9 Transferred to Packing Department in July fill in the blank d57d1af5103d000_10 fill in the blank d57d1af5103d000_11 fill in the blank d57d1af5103d000_12 Inventory in process, July 31 fill in the blank d57d1af5103d000_13 fill in the blank d57d1af5103d000_14 fill in the blank d57d1af5103d000_15 Total units to be assigned costs fill in the blank d57d1af5103d000_16 fill in the blank d57d1af5103d000_17 fill in the blank d57d1af5103d000_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank d57d1af5103d000_19 $fill in the blank d57d1af5103d000_20 Total equivalent units fill in the blank d57d1af5103d000_21 fill in the blank d57d1af5103d000_22 Cost per equivalent unit $fill in the blank d57d1af5103d000_23 $fill in the blank d57d1af5103d000_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank d57d1af5103d000_25 Costs incurred in July fill in the blank d57d1af5103d000_26 Total costs accounted for by the Roasting Department $fill in the blank d57d1af5103d000_27 Costs allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank d57d1af5103d000_28 To complete inventory in process, July 1 $fill in the blank d57d1af5103d000_29 $fill in the blank d57d1af5103d000_30 fill in the blank d57d1af5103d000_31 Cost of completed July 1 work in process $fill in the blank d57d1af5103d000_32 Started and completed in July fill in the blank d57d1af5103d000_33 fill in the blank d57d1af5103d000_34 fill in the blank d57d1af5103d000_35 Transferred to Molding Department in July $fill in the blank d57d1af5103d000_36 Inventory in process, July 31 fill in the blank d57d1af5103d000_37 fill in the blank d57d1af5103d000_38 fill in the blank d57d1af5103d000_39 Total costs assigned by the Roasting Department $fill in the blank d57d1af5103d000_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 522916fb5075028_2 Change in conversion cost per equivalent unit Decrease $fill in the blank 522916fb5075028_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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Question

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, 4/5 completed			14,630
	31	Direct materials, 247,500 units	544,500			559,130
	31	Direct labor	118,400			677,530
	31	Factory overhead	29,560			707,090
	31	Goods transferred, 248,000 units		?
	31	Bal., ? units, 3/5 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 d57d1af5103d000_1
Received from materials storeroom	fill in the blank d57d1af5103d000_2
Total units accounted for by the Roasting Department	fill in the blank d57d1af5103d000_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, July 1	fill in the blank d57d1af5103d000_4	fill in the blank d57d1af5103d000_5	fill in the blank d57d1af5103d000_6
Started and completed in July	fill in the blank d57d1af5103d000_7	fill in the blank d57d1af5103d000_8	fill in the blank d57d1af5103d000_9
Transferred to Packing Department in July	fill in the blank d57d1af5103d000_10	fill in the blank d57d1af5103d000_11	fill in the blank d57d1af5103d000_12
Inventory in process, July 31	fill in the blank d57d1af5103d000_13	fill in the blank d57d1af5103d000_14	fill in the blank d57d1af5103d000_15
Total units to be assigned costs	fill in the blank d57d1af5103d000_16	fill in the blank d57d1af5103d000_17	fill in the blank d57d1af5103d000_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for July in Roasting Department	$fill in the blank d57d1af5103d000_19	$fill in the blank d57d1af5103d000_20
Total equivalent units	fill in the blank d57d1af5103d000_21	fill in the blank d57d1af5103d000_22
Cost per equivalent unit	$fill in the blank d57d1af5103d000_23	$fill in the blank d57d1af5103d000_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, July 1			$fill in the blank d57d1af5103d000_25
Costs incurred in July			fill in the blank d57d1af5103d000_26
Total costs accounted for by the Roasting Department			$fill in the blank d57d1af5103d000_27
Costs allocated to completed and partially completed units:
Inventory in process, July 1 balance			$fill in the blank d57d1af5103d000_28
To complete inventory in process, July 1	$fill in the blank d57d1af5103d000_29	$fill in the blank d57d1af5103d000_30	fill in the blank d57d1af5103d000_31
Cost of completed July 1 work in process			$fill in the blank d57d1af5103d000_32
Started and completed in July	fill in the blank d57d1af5103d000_33	fill in the blank d57d1af5103d000_34	fill in the blank d57d1af5103d000_35
Transferred to Molding Department in July			$fill in the blank d57d1af5103d000_36
Inventory in process, July 31	fill in the blank d57d1af5103d000_37	fill in the blank d57d1af5103d000_38	fill in the blank d57d1af5103d000_39
Total costs assigned by the Roasting Department			$fill in the blank d57d1af5103d000_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 522916fb5075028_2
Change in conversion cost per equivalent unit	Decrease	$fill in the blank 522916fb5075028_4

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