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 ACCOUNT NO.DateItemDebitCreditBalanceDebitBalanceCreditMarch 1Bal., 25,000 units, 10% completed 21,250 31Direct materials, 600,000 units450,000 471,250 31Direct labor244,600 715,850 31Factory overhead415,820 1,131,670 31Goods transferred, 605,000 units ? 31Bal., ? units, 45% completed ? Required:1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Roasting Department.

The total units available for production is the sum of the beginning inventory and the units added…

Answered: Lui Coffee Company roasts and packs…

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 5PB: Blue Ribbon Flour Company manufactures flour by a series of three processes, beginning in the...

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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 ACCOUNT NO.

Date	Item	Debit	Credit	Balance Debit
March 1	Bal., 25,000 units, 10% completed			21,250
31	Direct materials, 600,000 units	450,000		471,250
31	Direct labor	244,600		715,850
31	Factory overhead	415,820		1,131,670
31	Goods transferred, 605,000 units		?
31	Bal., ? units, 45% completed			?