PR 17-2A Cost of Production ReportObj. 2, 4 Hana Coffee Company roasts and packs coffee beans. The process begins byplacing coffee beans into the Roasting Department. From the Roasting Department, coffeebeans are then transferred to the Packing Department. The following is a partial work inprocess account of the Roasting Department at July 31:ACCOUNT Work in Process-Roasting DepartmentDateJulyItem1 Bal., 30,000 units, 10% completed31 Direct materials, 155,000 units31 Direct labor31 Factory overhead31 Goods transferred, 149,000 units31 Bal.,? units, 45% completedInstructionsAnswerCheck Figure: Conversion cost per equivalent unit, $0.76Debit Credit620,00090,00033,272PICTIO?ACCOUNT NO.BalanceDebit Credit121,800741,800831,800865,0721. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department.?2. Assuming that the July 1 work in process inventory includes $119,400 of direct materials,determine the increase or decrease in the cost per equivalent unit for direct materials andconversion between June and July. July 1, work in proceLess direct materialsConversion costsConversion cost equivalent units:Units in processPercent completeEquivalent unitsJuly costs per equivalent unit (from part 1)June costs per equivalent urTotal costs in Work in Process, July 1Total equivalent unitsCost per equivalent unitIncrease (decrease)X$ 121,800+Direct Materials$4.00$$$119,40030,0003.980.02$$$$Conversion0.7621,60027,0000.800.04

Name: PR 17-2A Cost of Production ReportObj. 2, 4 Hana Coffee Company roast
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Description: PR 17-2A Cost of Production ReportObj. 2, 4 Hana Coffee Company roasts and packs coffee beans. The process begins byplacing coffee beans into the Roasting Department. From the Roasting Department, coffeebeans are then transferred to the Packing Depa

A production report is a consolidated report that presents the information about the physical flow…

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Accounting

Obj. 2, 4 Hana 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:

Obj. 2, 4 Hana 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:

FINANCIAL ACCOUNTING

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Cost of Production Report Hana 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., 4,800 units, 1/5 completed 10752 31 Direct materials, 216000 units 475200 485952 31 Direct labor 104100 590052 31 Factory overhead 26076 616128 31 Goods transferred, 216000 units ? 31 Bal., ? units, 2/5 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 two decimal places. Hana Coffee Company Cost of…
Daffy Corporation has two processing departments-Mixing and Cooking. Daffy uses the FIFO method. The following information relates to the Mixing Department: Mixing Department Beginning work in process inventory Units started into production during the period Units transferred out during the period Ending work in process inventory Units 200 3,000 2,600 600 2,640 2,720 O 2,750 2,840 Percentage Complete Materials 55% 25% Knowledge Check 01 What is the number of equivalent units of production with respect to materials during the period? Conversion 60% 40%
Cost of Production Report Hana 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 Balance Debit Credit Debit Credit July 1 Bal., 4,100 units, 3/5 completed 12,628 31 Direct materials, 184,500 units 498,150 510,778 31 Direct labor 103,800 614,578 31 Factory overhead 25,994 640,572 31 Goods transferred, 185,000 units ? 31 Bal., 2 units, 4/5 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 two decimal places.
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Fresh Mountain 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, 2016: INSTRUCTIONS Prepare a cost of production report, and identify the missing amounts for Work in Process—Roasting Department. ANSWER ↓ Check Figure: Conversion cost per equivalent unit, $0.80 Assuming that the March 1 work in process inventory includes $5,700 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and March. I'm having trouble answering parts of the report. The parts that have the red * astrick are where I am needing help
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Using the FIFO (first-in, first-out) method, (1) prepare a production cost report for the Mixing department and (2) prepare a journal entry for Mixing to transfer its costs to the next department. Round all your answers to 2 decimal places if needed.
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White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour.The balance in the account Work in Process—Sifting Department was as follows on July 1: Attachment During July, 15,500 units of flour were completed. Work in Process—Sifting Department on July 31 was 1,100 units, 4⁄5 completed.Instructions1. Prepare a cost of production report for the Sifting Department for July.2. Journalize the entries for costs transferred from Milling to Sifting and the costs transferred from Sifting to Packaging.3. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversion costs.4. Discuss the uses of the cost of production report and the results of part (3).
Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffe 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. Balance Date Item July 1 Bal., 30,000 units, 10% completed 31 Direct materials, 155,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 149,000 units 31 Bal., 2 units, 45% completed Required: Debit 620,000 90,000 33,272 Credit Debit 121,800 741,800 831,800 865,072 Credit 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. Hana Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31
Hana 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., 5,400 units, 1/5 completed 11,448 31 Direct materials, 243,000 units 510,300 521,748 31 Direct labor 97,600 619,348 31 Factory overhead 24,440 643,788 31 Goods transferred, 243,000 units ? 31 Bal., ? units, 2/5 completed ? Required: Question Content Area 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 two decimal places. Hana Coffee…