ProblemsSunrise Coffee Company roasts and packs coffee beans. The process begins in the RoastingDepartment. From the Roasting Department, the coffee beans are transferred to the PackingDepartment. The following is a partial work in process account of the Roasting Department atDecember 31:ACCOUNT Work in Process-Roasting DepartmentDateDec.Item1 Bal., 10,500 units, 75% completedDirect materials, 210,400 unitsDirect labor313131Factory overhead31 Goods transferred, 208,900 units31Bal., 2 units, 25% completedDebit246,800135,700168,630Credit?ACCOUNT NO.BalanceDebit21,000267,800403,500572,130??CreditPrepare a cost of production report, using the average cost method, and identify the missingamounts for Work in Process-Roasting Department

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Description: ProblemsSunrise Coffee Company roasts and packs coffee beans. The process begins in the RoastingDepartment. From the Roasting Department, the coffee beans are transferred to the PackingDepartment. The following is a partial work in process account o

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Problems Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31: ACCOUNT Work in Process-Roasting Department Date Item Dec. 1 Bal., 10,500 units, 75% completed Direct materials, 210,400 units 31 31 Direct labor 31 Factory overhead 31 Goods transferred, 208,900 units 31 Bal., 2 units, 25% completed Debit 246,800 135,700 168,630 Credit ? ACCOUNT NO. Balance Debit 21,000 267,800 403,500 572,130 ? ? Credit Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process-Roasting Department

Problems Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31: ACCOUNT Work in Process-Roasting Department Date Item Dec. 1 Bal., 10,500 units, 75% completed Direct materials, 210,400 units 31 31 Direct labor 31 Factory overhead 31 Goods transferred, 208,900 units 31 Bal., 2 units, 25% completed Debit 246,800 135,700 168,630 Credit ? ACCOUNT NO. Balance Debit 21,000 267,800 403,500 572,130 ? ? Credit Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process-Roasting Department

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: Average Cost Method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31: ACCOUNT Work in Process—Roasting Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 10,500 units, 75% completed 21,000 31 Direct materials, 210,400 units 246,800 267,800 31 Direct labor 135,700 403,500 31 Factory overhead 168,630 572,130 31 Goods transferred, 208,900 units ? ? 31 Bal., ? units, 25% completed ? Required: Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process—Roasting Department. If required, round your cost per equivalent unit answer to the nearest cent. Sunrise…
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