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 PackingDepartment. The following is a partial work in process account of the Roasting Department at March 31:ACCOUNT Work in Process-Roasting DepartmentACCOUNT NO.BalanceBalanceDateItemDebit Credit DebitCreditMarch 1 Bal., 25,000 units, 10% completed21,25031 Direct materials, 600,000 units31 Direct labor450,000471,25031 Factory overhead244,600415,820715,8501,131,67031 Goods transferred, 605,000 units31 Bal., ? units, 45% 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 thenearest cent.Lui Coffee CompanyCost of Production Report-Roasting DepartmentUnitsUnits charged to production:For the Month Ended March 31Inventory in process, March 1Received from materials storeroomTotal units accounted for by the Roasting DepartmentUnits to be assigned costs:Equivalent UnitsEquivalent UnitsWhole UnitsDirect MaterialsConversion

Name: Lui Coffee Company roasts and packs coffee beans. The process begins
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Description: 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 PackingDepartment. The following is a partial work in p

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Lul Coffee Company roasts and packs coffee beans. The process begins by placing coffee beabs 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 ACCOUNT NO. Balance Balance Date Item Debit Credit Debit Credit March 1 Bal., 25,000 units, 10% completed 21,250 31 Direct materials, 600,000 units 31 Direct labor 450,000 471,250 31 Factory overhead 244,600 415,820 715,850 1,131,670 31 Goods transferred, 605,000 units 31 Bal., 2 units, 45% 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 the nearest cent. Lui Coffee Company Cost of Production Report-Roasting Department Units Units charged to production: For the Month Ended March 31 Equivalent Units Equivalent Units Whole Units Direct Materials Conversion Inventory in process, March 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs:

Lul Coffee Company roasts and packs coffee beans. The process begins by placing coffee beabs 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 ACCOUNT NO. Balance Balance Date Item Debit Credit Debit Credit March 1 Bal., 25,000 units, 10% completed 21,250 31 Direct materials, 600,000 units 31 Direct labor 450,000 471,250 31 Factory overhead 244,600 415,820 715,850 1,131,670 31 Goods transferred, 605,000 units 31 Bal., 2 units, 45% 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 the nearest cent. Lui Coffee Company Cost of Production Report-Roasting Department Units Units charged to production: For the Month Ended March 31 Equivalent Units Equivalent Units Whole Units Direct Materials Conversion Inventory in process, March 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs:

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 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., 7,200 units, 3/5 completed 31 Direct materials, 324,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 325,000 units 31 Bal., 2 units, 1/5 completed Debit Credit 810,000 154,500 38,652 ACCOUNT NO. Balance Balance. Debit Credit 20,304 830,304 984,804 1,023,456 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.
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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 ACCOUNT NO. Date Item Debit Credit BalanceDebit BalanceCredit 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 ? 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 Whole Units Equivalent UnitsDirect…
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