Mochaccino Express 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., 63,000 units, 90% completed 344,295 31 Direct materials, 324,000 units 1,328,400 1,672,695 31 Direct labor 325,200 1,997,895 31 Factory overhead 120,300 2,118,195 31 Goods transferred, 313,000 units ? 31 Bal., ? units, 55% completed ? Required: 1. Prepare a cost of production report and identify the missing amounts for Work in Process—Roasting Department. If an amount box does not require an entry, leave it blank. When computing cost per equivalent units, round to the nearest cent. Mochaccino Express 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 677c5e08cfad01f_1 Received from materials storeroom fill in the blank 677c5e08cfad01f_2 Total units accounted for by the Roasting Department fill in the blank 677c5e08cfad01f_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 677c5e08cfad01f_4 fill in the blank 677c5e08cfad01f_5 fill in the blank 677c5e08cfad01f_6 Started and completed in July fill in the blank 677c5e08cfad01f_7 fill in the blank 677c5e08cfad01f_8 fill in the blank 677c5e08cfad01f_9 Transferred to Packing Department in July fill in the blank 677c5e08cfad01f_10 fill in the blank 677c5e08cfad01f_11 fill in the blank 677c5e08cfad01f_12 Inventory in process, July 31 fill in the blank 677c5e08cfad01f_13 fill in the blank 677c5e08cfad01f_14 fill in the blank 677c5e08cfad01f_15 Total units to be assigned costs fill in the blank 677c5e08cfad01f_16 fill in the blank 677c5e08cfad01f_17 fill in the blank 677c5e08cfad01f_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 677c5e08cfad01f_19 $fill in the blank 677c5e08cfad01f_20 Total equivalent units fill in the blank 677c5e08cfad01f_21 fill in the blank 677c5e08cfad01f_22 Cost per equivalent unit $fill in the blank 677c5e08cfad01f_23 $fill in the blank 677c5e08cfad01f_24 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 677c5e08cfad01f_25 Costs incurred in July fill in the blank 677c5e08cfad01f_26 Total costs accounted for by the Roasting Department $fill in the blank 677c5e08cfad01f_27 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 677c5e08cfad01f_28 To complete inventory in process, July 1 $fill in the blank 677c5e08cfad01f_29 $fill in the blank 677c5e08cfad01f_30 fill in the blank 677c5e08cfad01f_31 Cost of completed July 1 work in process $fill in the blank 677c5e08cfad01f_32 Started and completed in July fill in the blank 677c5e08cfad01f_33 fill in the blank 677c5e08cfad01f_34 fill in the blank 677c5e08cfad01f_35 Transferred to Packing Department in July $fill in the blank 677c5e08cfad01f_36 Inventory in process, July 31 fill in the blank 677c5e08cfad01f_37 fill in the blank 677c5e08cfad01f_38 fill in the blank 677c5e08cfad01f_39 Total costs assigned by the Roasting Department $fill in the blank 677c5e08cfad01f_40 2. Assuming that the July 1 work in process inventory includes $256,410 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 two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank 31abc604d019076_2 Change in conversion cost per equivalent unit $fill in the blank 31abc604d019076_4

Mochaccino Express 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., 63,000 units, 90% completed 344,295 31 Direct materials, 324,000 units 1,328,400 1,672,695 31 Direct labor 325,200 1,997,895 31 Factory overhead 120,300 2,118,195 31 Goods transferred, 313,000 units ? 31 Bal., ? units, 55% completed ? Required: 1. Prepare a cost of production report and identify the missing amounts for Work in Process—Roasting Department. If an amount box does not require an entry, leave it blank. When computing cost per equivalent units, round to the nearest cent. Mochaccino Express 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 677c5e08cfad01f_1 Received from materials storeroom fill in the blank 677c5e08cfad01f_2 Total units accounted for by the Roasting Department fill in the blank 677c5e08cfad01f_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 677c5e08cfad01f_4 fill in the blank 677c5e08cfad01f_5 fill in the blank 677c5e08cfad01f_6 Started and completed in July fill in the blank 677c5e08cfad01f_7 fill in the blank 677c5e08cfad01f_8 fill in the blank 677c5e08cfad01f_9 Transferred to Packing Department in July fill in the blank 677c5e08cfad01f_10 fill in the blank 677c5e08cfad01f_11 fill in the blank 677c5e08cfad01f_12 Inventory in process, July 31 fill in the blank 677c5e08cfad01f_13 fill in the blank 677c5e08cfad01f_14 fill in the blank 677c5e08cfad01f_15 Total units to be assigned costs fill in the blank 677c5e08cfad01f_16 fill in the blank 677c5e08cfad01f_17 fill in the blank 677c5e08cfad01f_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 677c5e08cfad01f_19 $fill in the blank 677c5e08cfad01f_20 Total equivalent units fill in the blank 677c5e08cfad01f_21 fill in the blank 677c5e08cfad01f_22 Cost per equivalent unit $fill in the blank 677c5e08cfad01f_23 $fill in the blank 677c5e08cfad01f_24 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 677c5e08cfad01f_25 Costs incurred in July fill in the blank 677c5e08cfad01f_26 Total costs accounted for by the Roasting Department $fill in the blank 677c5e08cfad01f_27 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 677c5e08cfad01f_28 To complete inventory in process, July 1 $fill in the blank 677c5e08cfad01f_29 $fill in the blank 677c5e08cfad01f_30 fill in the blank 677c5e08cfad01f_31 Cost of completed July 1 work in process $fill in the blank 677c5e08cfad01f_32 Started and completed in July fill in the blank 677c5e08cfad01f_33 fill in the blank 677c5e08cfad01f_34 fill in the blank 677c5e08cfad01f_35 Transferred to Packing Department in July $fill in the blank 677c5e08cfad01f_36 Inventory in process, July 31 fill in the blank 677c5e08cfad01f_37 fill in the blank 677c5e08cfad01f_38 fill in the blank 677c5e08cfad01f_39 Total costs assigned by the Roasting Department $fill in the blank 677c5e08cfad01f_40 2. Assuming that the July 1 work in process inventory includes $256,410 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 two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank 31abc604d019076_2 Change in conversion cost per equivalent unit $fill in the blank 31abc604d019076_4

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Cost of Production Report

ACCOUNT Work in Process—Roasting Department	ACCOUNT NO.
Date	Item	Debit	Credit	Balance
Debit	Credit
July.	1	Bal., 63,000 units, 90% completed			344,295
	31	Direct materials, 324,000 units	1,328,400			1,672,695
	31	Direct labor	325,200			1,997,895
	31	Factory overhead	120,300			2,118,195
	31	Goods transferred, 313,000 units		?
	31	Bal., ? units, 55% completed			?

Required:

1. Prepare a cost of production report and identify the missing amounts for Work in Process—Roasting Department. If an amount box does not require an entry, leave it blank. When computing cost per equivalent units, round to the nearest cent.

Mochaccino Express 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 677c5e08cfad01f_1
Received from materials storeroom	fill in the blank 677c5e08cfad01f_2
Total units accounted for by the Roasting Department	fill in the blank 677c5e08cfad01f_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, July 1	fill in the blank 677c5e08cfad01f_4	fill in the blank 677c5e08cfad01f_5	fill in the blank 677c5e08cfad01f_6
Started and completed in July	fill in the blank 677c5e08cfad01f_7	fill in the blank 677c5e08cfad01f_8	fill in the blank 677c5e08cfad01f_9
Transferred to Packing Department in July	fill in the blank 677c5e08cfad01f_10	fill in the blank 677c5e08cfad01f_11	fill in the blank 677c5e08cfad01f_12
Inventory in process, July 31	fill in the blank 677c5e08cfad01f_13	fill in the blank 677c5e08cfad01f_14	fill in the blank 677c5e08cfad01f_15
Total units to be assigned costs	fill in the blank 677c5e08cfad01f_16	fill in the blank 677c5e08cfad01f_17	fill in the blank 677c5e08cfad01f_18
Cost Information
Costs per equivalent unit:
	Direct Materials	Conversion
Total costs for July in Roasting Department	$fill in the blank 677c5e08cfad01f_19	$fill in the blank 677c5e08cfad01f_20
Total equivalent units	fill in the blank 677c5e08cfad01f_21	fill in the blank 677c5e08cfad01f_22
Cost per equivalent unit	$fill in the blank 677c5e08cfad01f_23	$fill in the blank 677c5e08cfad01f_24
Costs charged to production:
	Direct Materials	Conversion	Total
Inventory in process, July 1			$fill in the blank 677c5e08cfad01f_25
Costs incurred in July			fill in the blank 677c5e08cfad01f_26
Total costs accounted for by the Roasting Department			$fill in the blank 677c5e08cfad01f_27
Cost allocated to completed and partially completed units:
Inventory in process, July 1 balance			$fill in the blank 677c5e08cfad01f_28
To complete inventory in process, July 1	$fill in the blank 677c5e08cfad01f_29	$fill in the blank 677c5e08cfad01f_30	fill in the blank 677c5e08cfad01f_31
Cost of completed July 1 work in process			$fill in the blank 677c5e08cfad01f_32
Started and completed in July	fill in the blank 677c5e08cfad01f_33	fill in the blank 677c5e08cfad01f_34	fill in the blank 677c5e08cfad01f_35
Transferred to Packing Department in July			$fill in the blank 677c5e08cfad01f_36
Inventory in process, July 31	fill in the blank 677c5e08cfad01f_37	fill in the blank 677c5e08cfad01f_38	fill in the blank 677c5e08cfad01f_39
Total costs assigned by the Roasting Department			$fill in the blank 677c5e08cfad01f_40

2. Assuming that the July 1 work in process inventory includes $256,410 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 two decimal places.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit		$fill in the blank 31abc604d019076_2
Change in conversion cost per equivalent unit		$fill in the blank 31abc604d019076_4

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