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., 7,000 units, 20% completed 19,320 31 Direct materials, 280,000 units 756,000 775,320 31 Direct labor 157,200 932,520 31 Factory overhead 39,360 971,880 31 Goods transferred, 281,000 units ? 31 Bal., ? units, 20% 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 two decimal places. 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 5b10d5ffbf8901b_1 Received from materials storeroom fill in the blank 5b10d5ffbf8901b_2 Total units accounted for by the Roasting Department fill in the blank 5b10d5ffbf8901b_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 5b10d5ffbf8901b_4 fill in the blank 5b10d5ffbf8901b_5 fill in the blank 5b10d5ffbf8901b_6 Started and completed in July fill in the blank 5b10d5ffbf8901b_7 fill in the blank 5b10d5ffbf8901b_8 fill in the blank 5b10d5ffbf8901b_9 Transferred to Packing Department in July fill in the blank 5b10d5ffbf8901b_10 fill in the blank 5b10d5ffbf8901b_11 fill in the blank 5b10d5ffbf8901b_12 Inventory in process, July 31 fill in the blank 5b10d5ffbf8901b_13 fill in the blank 5b10d5ffbf8901b_14 fill in the blank 5b10d5ffbf8901b_15 Total units to be assigned costs fill in the blank 5b10d5ffbf8901b_16 fill in the blank 5b10d5ffbf8901b_17 fill in the blank 5b10d5ffbf8901b_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 5b10d5ffbf8901b_19 $fill in the blank 5b10d5ffbf8901b_20 Total equivalent units fill in the blank 5b10d5ffbf8901b_21 fill in the blank 5b10d5ffbf8901b_22 Cost per equivalent unit $fill in the blank 5b10d5ffbf8901b_23 $fill in the blank 5b10d5ffbf8901b_24 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 5b10d5ffbf8901b_25 Costs incurred in July fill in the blank 5b10d5ffbf8901b_26 Total costs accounted for by the Roasting Department $fill in the blank 5b10d5ffbf8901b_27 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 5b10d5ffbf8901b_28 To complete inventory in process, July 1 $fill in the blank 5b10d5ffbf8901b_29 $fill in the blank 5b10d5ffbf8901b_30 fill in the blank 5b10d5ffbf8901b_31 Cost of completed July 1 work in process $fill in the blank 5b10d5ffbf8901b_32 Started and completed in July fill in the blank 5b10d5ffbf8901b_33 fill in the blank 5b10d5ffbf8901b_34 fill in the blank 5b10d5ffbf8901b_35 Transferred to Packing Department in July $fill in the blank 5b10d5ffbf8901b_36 Inventory in process, July 31 fill in the blank 5b10d5ffbf8901b_37 fill in the blank 5b10d5ffbf8901b_38 fill in the blank 5b10d5ffbf8901b_39 Total costs assigned by the Roasting Department $fill in the blank 5b10d5ffbf8901b_40 2. Assuming that the July 1 work in process inventory includes $18,200 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 the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank fb6559fecfabf99_2 Change in conversion cost per equivalent unit $fill in the blank fb6559fecfabf99_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., 7,000 units, 20% completed 19,320 31 Direct materials, 280,000 units 756,000 775,320 31 Direct labor 157,200 932,520 31 Factory overhead 39,360 971,880 31 Goods transferred, 281,000 units ? 31 Bal., ? units, 20% 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 two decimal places. 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 5b10d5ffbf8901b_1 Received from materials storeroom fill in the blank 5b10d5ffbf8901b_2 Total units accounted for by the Roasting Department fill in the blank 5b10d5ffbf8901b_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 5b10d5ffbf8901b_4 fill in the blank 5b10d5ffbf8901b_5 fill in the blank 5b10d5ffbf8901b_6 Started and completed in July fill in the blank 5b10d5ffbf8901b_7 fill in the blank 5b10d5ffbf8901b_8 fill in the blank 5b10d5ffbf8901b_9 Transferred to Packing Department in July fill in the blank 5b10d5ffbf8901b_10 fill in the blank 5b10d5ffbf8901b_11 fill in the blank 5b10d5ffbf8901b_12 Inventory in process, July 31 fill in the blank 5b10d5ffbf8901b_13 fill in the blank 5b10d5ffbf8901b_14 fill in the blank 5b10d5ffbf8901b_15 Total units to be assigned costs fill in the blank 5b10d5ffbf8901b_16 fill in the blank 5b10d5ffbf8901b_17 fill in the blank 5b10d5ffbf8901b_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 5b10d5ffbf8901b_19 $fill in the blank 5b10d5ffbf8901b_20 Total equivalent units fill in the blank 5b10d5ffbf8901b_21 fill in the blank 5b10d5ffbf8901b_22 Cost per equivalent unit $fill in the blank 5b10d5ffbf8901b_23 $fill in the blank 5b10d5ffbf8901b_24 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 5b10d5ffbf8901b_25 Costs incurred in July fill in the blank 5b10d5ffbf8901b_26 Total costs accounted for by the Roasting Department $fill in the blank 5b10d5ffbf8901b_27 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 5b10d5ffbf8901b_28 To complete inventory in process, July 1 $fill in the blank 5b10d5ffbf8901b_29 $fill in the blank 5b10d5ffbf8901b_30 fill in the blank 5b10d5ffbf8901b_31 Cost of completed July 1 work in process $fill in the blank 5b10d5ffbf8901b_32 Started and completed in July fill in the blank 5b10d5ffbf8901b_33 fill in the blank 5b10d5ffbf8901b_34 fill in the blank 5b10d5ffbf8901b_35 Transferred to Packing Department in July $fill in the blank 5b10d5ffbf8901b_36 Inventory in process, July 31 fill in the blank 5b10d5ffbf8901b_37 fill in the blank 5b10d5ffbf8901b_38 fill in the blank 5b10d5ffbf8901b_39 Total costs assigned by the Roasting Department $fill in the blank 5b10d5ffbf8901b_40 2. Assuming that the July 1 work in process inventory includes $18,200 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 the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank fb6559fecfabf99_2 Change in conversion cost per equivalent unit $fill in the blank fb6559fecfabf99_4

Name: Mochaccino Express Coffee Company roasts and packs coffee beans. The p
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Description: 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 pa

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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ACCOUNT Work in Process—Roasting Department	ACCOUNT NO.
Date	Item	Debit	Credit	Balance
Debit	Credit
July	1	Bal., 7,000 units, 20% completed			19,320
	31	Direct materials, 280,000 units	756,000			775,320
	31	Direct labor	157,200			932,520
	31	Factory overhead	39,360			971,880
	31	Goods transferred, 281,000 units		?
	31	Bal., ? units, 20% 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 two decimal places.

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 5b10d5ffbf8901b_1
Received from materials storeroom	fill in the blank 5b10d5ffbf8901b_2
Total units accounted for by the Roasting Department	fill in the blank 5b10d5ffbf8901b_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, July 1	fill in the blank 5b10d5ffbf8901b_4	fill in the blank 5b10d5ffbf8901b_5	fill in the blank 5b10d5ffbf8901b_6
Started and completed in July	fill in the blank 5b10d5ffbf8901b_7	fill in the blank 5b10d5ffbf8901b_8	fill in the blank 5b10d5ffbf8901b_9
Transferred to Packing Department in July	fill in the blank 5b10d5ffbf8901b_10	fill in the blank 5b10d5ffbf8901b_11	fill in the blank 5b10d5ffbf8901b_12
Inventory in process, July 31	fill in the blank 5b10d5ffbf8901b_13	fill in the blank 5b10d5ffbf8901b_14	fill in the blank 5b10d5ffbf8901b_15
Total units to be assigned costs	fill in the blank 5b10d5ffbf8901b_16	fill in the blank 5b10d5ffbf8901b_17	fill in the blank 5b10d5ffbf8901b_18
Cost Information
Costs per equivalent unit:
	Direct Materials	Conversion
Total costs for July in Roasting Department	$fill in the blank 5b10d5ffbf8901b_19	$fill in the blank 5b10d5ffbf8901b_20
Total equivalent units	fill in the blank 5b10d5ffbf8901b_21	fill in the blank 5b10d5ffbf8901b_22
Cost per equivalent unit	$fill in the blank 5b10d5ffbf8901b_23	$fill in the blank 5b10d5ffbf8901b_24
Costs charged to production:
	Direct Materials	Conversion	Total
Inventory in process, July 1			$fill in the blank 5b10d5ffbf8901b_25
Costs incurred in July			fill in the blank 5b10d5ffbf8901b_26
Total costs accounted for by the Roasting Department			$fill in the blank 5b10d5ffbf8901b_27
Cost allocated to completed and partially completed units:
Inventory in process, July 1 balance			$fill in the blank 5b10d5ffbf8901b_28
To complete inventory in process, July 1	$fill in the blank 5b10d5ffbf8901b_29	$fill in the blank 5b10d5ffbf8901b_30	fill in the blank 5b10d5ffbf8901b_31
Cost of completed July 1 work in process			$fill in the blank 5b10d5ffbf8901b_32
Started and completed in July	fill in the blank 5b10d5ffbf8901b_33	fill in the blank 5b10d5ffbf8901b_34	fill in the blank 5b10d5ffbf8901b_35
Transferred to Packing Department in July			$fill in the blank 5b10d5ffbf8901b_36
Inventory in process, July 31	fill in the blank 5b10d5ffbf8901b_37	fill in the blank 5b10d5ffbf8901b_38	fill in the blank 5b10d5ffbf8901b_39
Total costs assigned by the Roasting Department			$fill in the blank 5b10d5ffbf8901b_40

2. Assuming that the July 1 work in process inventory includes $18,200 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 the nearest cent.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit		$fill in the blank fb6559fecfabf99_2
Change in conversion cost per equivalent unit		$fill in the blank fb6559fecfabf99_4

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