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., 5,700 units, 2/5 completed 31 Direct materials, 256,500 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 257,000 units 31 Bal., 2 units, 3/5 completed Debit Credit 846,450 165,000 41,272 ACCOUNT NO. Balance Balance Debit Credit 20,292 866,742 1,031,742 1,073,014

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Chapter1: Financial Statements And Business Decisions
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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., 5,700 units, 2/5 completed
31 Direct materials, 256,500 units
31 Direct labor
31 Factory overhead i
31 Goods transferred, 257,000 units
31 Bal., 2 units, 3/5 completed
Debit Credit
846,450
165,000
41,272
?
ACCOUNT NO.
Balance Balance
Debit
Credit
20,292
866,742
1,031,742
1,073,014
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., 5,700 units, 2/5 completed 31 Direct materials, 256,500 units 31 Direct labor 31 Factory overhead i 31 Goods transferred, 257,000 units 31 Bal., 2 units, 3/5 completed Debit Credit 846,450 165,000 41,272 ? ACCOUNT NO. Balance Balance Debit Credit 20,292 866,742 1,031,742 1,073,014
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.
Units
Units charged to production:
Inventory in process, March 11
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
Costs
Lui Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended March 31
Show Transcribed Text
Cost per equivalent unit:
Total costs for March in Roasting Department
Total equivalent units
Cost per equivalent unit
Costs assigned to production:
Whole Units
Change in direct materials cost per equivalent unit
Change in conversion cost per equivalent unit
5,700✔
5,700 ✓
257,000 ✔
Ü
Costs
Direct Materials
Increase
Equivalent Units
Direct Materials
Decrease
Inventory in process, March 11
Costs incurred in March
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
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 $18,240 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 to two decimal places.
Increase or Decrease
000
000
✓
Equivalent Units
Conversion
Conversion
Amount
Total
po
Transcribed Image Text: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. Units Units charged to production: Inventory in process, March 11 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 Costs Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 Show Transcribed Text Cost per equivalent unit: Total costs for March in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Whole Units Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit 5,700✔ 5,700 ✓ 257,000 ✔ Ü Costs Direct Materials Increase Equivalent Units Direct Materials Decrease Inventory in process, March 11 Costs incurred in March 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 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 $18,240 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 to two decimal places. Increase or Decrease 000 000 ✓ Equivalent Units Conversion Conversion Amount Total po
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