9 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 RoastingDepartment at March 31:ACCOUNT Work in Process-Roasting DepartmentDate ItemMarch 1 Bal., 7,800 units, 4/5 completed31 Direct materials, 351,000 units31 Direct labor31 Factory overhead31 Goods transferred, 352,000 units31 Bal., 2 units, 3/5 completedUnitsUnits charged to production:Inventory in process, March 1Received from materials storeroomCostsTotal units accounted for by the Roasting DepartmentUnits to be assigned costs:Inventory in process, March 1Started and completed in MarchTransferred to Packing Department in MarchInventory in process, March 31Total units to be assigned costsDebit982,800195,90048,988Cost per equivalent unitCosts assigned to production: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.Lul Coffee CompanyCost of Production Report-Roasting DepartmentFor the Month Ended March 31Cost per equivalent unit:Total costs for March in Roasting DepartmentTotal equivalent unitsInventory in process, March 1Costs incurred in MarchTo complete inventory in process, March 1Cost of completed March 1 work in processStarted and completed in MarchCreditTotal costs accounted for by the Roasting DepartmentCosts allocated to completed and partially completed units:Inventory in process, March 1 balanceTransferred to finished goods in MarchInventory in process, March 31Total costs assigned by the Roasting Department?ACCOUNT NO.Balance BalanceDebit Credit26,0521,008,8521,204,7521,253,740?Whole UnitsCostsEquivalent UnitsDirect MaterialsDirect MaterialsEquivalent UnitsConversionConversionTotalPreviousnⒸCIChe 31 Direct materials, 351,000 units31 Direct labor31 Factory overhead31 Goods transferred, 352,000 units31 Bal., 2 units, 3/5 completedUnits982,800195,90048,988Required: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.Lul Coffee CompanyUnits charged to production:Inventory in process, March 1Received from materials storeroomTotal units accounted for by the Roasting DepartmentUnits to be assigned costs:Inventory in process, March 1Started and completed in MarchTransferred to Packing Department in MarchInventory in process, March 31Total units to be assigned costs?1,008,8521,204,7521,253,740Cost of Production Report-Roasting DepartmentFor the Month Ended March 31Change in direct materials cost per equivalent unitChange in conversion cost per equivalent unit?Whole UnitsCostsEquivalent UnitsDirect MaterialsCostsCost per equivalent unit:Total costs for March in Roasting DepartmentTotal equivalent unitsCost per equivalent unitCosts assigned to production:Inventory in process, March 1Costs incurred in MarchTotal costs accounted for by the Roasting DepartmentCosts allocated to completed and partially completed units:Inventory in process, March 1 balanceTo complete inventory in process, March 11Cost of completed March 1 work in processStarted and completed in MarchTransferred to finished goods in MarchInventory in process, March 31Total costs assigned by the Roasting Department2. Assuming that the March 1 work in process inventory includes $21,060 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 DecreaseDirect Materials000Equivalent UnitsConversionConversion000EAmountTotal

Name: 9 Lui Coffee Company roasts and packs coffee beans. The process begins
Uploaded: 2024-03-20T06:32:49.000Z
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Description: 9 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

In process costing cost will be allocated on the basis of equivalent units. We need to find out 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 Work in Process-Roasting Department Date Item March 1 Bal., 7,800 units, 4/5 completed. 31 Direct materials, 351,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 352,000 units 31 Bal., 2 units, 3/5 completed Units 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 982,800 195,900 48,988 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: Costs Cost per equivalent unit: Total costs for March in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, March 1 Costs incurred in March Debit Credit Debit 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. Lul 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 Credit ? Transferred to finished goods in March Inventory in process, March 31 Total costs assigned by the Roasting Department 26,052 1,008,852 1,204,752 1,253,740 ? Whole Units Costs Equivalent Units Direct Materials Direct Materials 000 Equivalent Units Conversion Conversion 000 Total Previous CO CI Che