Question Content Area Cost of Production Report 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., 6,300 units, 60% completed 21,672 31 Direct materials, 252,000 units 756,000 777,672 31 Direct labor 161,500 939,172 31 Factory overhead 40,420 979,592 31 Goods transferred, 253,000 units ? 31 Bal., ? units, 60% 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 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 8a4064f73f96fa9_1 Received from materials storeroom fill in the blank 8a4064f73f96fa9_2 Total units accounted for by the Roasting Department fill in the blank 8a4064f73f96fa9_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 8a4064f73f96fa9_4 fill in the blank 8a4064f73f96fa9_5 fill in the blank 8a4064f73f96fa9_6 Started and completed in July fill in the blank 8a4064f73f96fa9_7 fill in the blank 8a4064f73f96fa9_8 fill in the blank 8a4064f73f96fa9_9 Transferred to Packing Department in July fill in the blank 8a4064f73f96fa9_10 fill in the blank 8a4064f73f96fa9_11 fill in the blank 8a4064f73f96fa9_12 Inventory in process, July 31 fill in the blank 8a4064f73f96fa9_13 fill in the blank 8a4064f73f96fa9_14 fill in the blank 8a4064f73f96fa9_15 Total units to be assigned costs fill in the blank 8a4064f73f96fa9_16 fill in the blank 8a4064f73f96fa9_17 fill in the blank 8a4064f73f96fa9_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 8a4064f73f96fa9_19 $fill in the blank 8a4064f73f96fa9_20 Total equivalent units fill in the blank 8a4064f73f96fa9_21 fill in the blank 8a4064f73f96fa9_22 Cost per equivalent unit $fill in the blank 8a4064f73f96fa9_23 $fill in the blank 8a4064f73f96fa9_24 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 8a4064f73f96fa9_25 Costs incurred in July fill in the blank 8a4064f73f96fa9_26 Total costs accounted for by the Roasting Department $fill in the blank 8a4064f73f96fa9_27 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 8a4064f73f96fa9_28 To complete inventory in process, July 1 $fill in the blank 8a4064f73f96fa9_29 $fill in the blank 8a4064f73f96fa9_30 fill in the blank 8a4064f73f96fa9_31 Cost of completed July 1 work in process $fill in the blank 8a4064f73f96fa9_32 Started and completed in July fill in the blank 8a4064f73f96fa9_33 fill in the blank 8a4064f73f96fa9_34 fill in the blank 8a4064f73f96fa9_35 Transferred to Packing Department in July $fill in the blank 8a4064f73f96fa9_36 Inventory in process, July 31 fill in the blank 8a4064f73f96fa9_37 fill in the blank 8a4064f73f96fa9_38 fill in the blank 8a4064f73f96fa9_39 Total costs assigned by the Roasting Department $fill in the blank 8a4064f73f96fa9_40 Question Content Area 2. Assuming that the July 1 work in process inventory includes $18,270 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 b17c7afcef84f8e_2 Change in conversion cost per equivalent unit

Question Content Area Cost of Production Report 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., 6,300 units, 60% completed 21,672 31 Direct materials, 252,000 units 756,000 777,672 31 Direct labor 161,500 939,172 31 Factory overhead 40,420 979,592 31 Goods transferred, 253,000 units ? 31 Bal., ? units, 60% 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 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 8a4064f73f96fa9_1 Received from materials storeroom fill in the blank 8a4064f73f96fa9_2 Total units accounted for by the Roasting Department fill in the blank 8a4064f73f96fa9_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 fill in the blank 8a4064f73f96fa9_4 fill in the blank 8a4064f73f96fa9_5 fill in the blank 8a4064f73f96fa9_6 Started and completed in July fill in the blank 8a4064f73f96fa9_7 fill in the blank 8a4064f73f96fa9_8 fill in the blank 8a4064f73f96fa9_9 Transferred to Packing Department in July fill in the blank 8a4064f73f96fa9_10 fill in the blank 8a4064f73f96fa9_11 fill in the blank 8a4064f73f96fa9_12 Inventory in process, July 31 fill in the blank 8a4064f73f96fa9_13 fill in the blank 8a4064f73f96fa9_14 fill in the blank 8a4064f73f96fa9_15 Total units to be assigned costs fill in the blank 8a4064f73f96fa9_16 fill in the blank 8a4064f73f96fa9_17 fill in the blank 8a4064f73f96fa9_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank 8a4064f73f96fa9_19 $fill in the blank 8a4064f73f96fa9_20 Total equivalent units fill in the blank 8a4064f73f96fa9_21 fill in the blank 8a4064f73f96fa9_22 Cost per equivalent unit $fill in the blank 8a4064f73f96fa9_23 $fill in the blank 8a4064f73f96fa9_24 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 $fill in the blank 8a4064f73f96fa9_25 Costs incurred in July fill in the blank 8a4064f73f96fa9_26 Total costs accounted for by the Roasting Department $fill in the blank 8a4064f73f96fa9_27 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance $fill in the blank 8a4064f73f96fa9_28 To complete inventory in process, July 1 $fill in the blank 8a4064f73f96fa9_29 $fill in the blank 8a4064f73f96fa9_30 fill in the blank 8a4064f73f96fa9_31 Cost of completed July 1 work in process $fill in the blank 8a4064f73f96fa9_32 Started and completed in July fill in the blank 8a4064f73f96fa9_33 fill in the blank 8a4064f73f96fa9_34 fill in the blank 8a4064f73f96fa9_35 Transferred to Packing Department in July $fill in the blank 8a4064f73f96fa9_36 Inventory in process, July 31 fill in the blank 8a4064f73f96fa9_37 fill in the blank 8a4064f73f96fa9_38 fill in the blank 8a4064f73f96fa9_39 Total costs assigned by the Roasting Department $fill in the blank 8a4064f73f96fa9_40 Question Content Area 2. Assuming that the July 1 work in process inventory includes $18,270 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 b17c7afcef84f8e_2 Change in conversion cost per equivalent unit

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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Question Content Area

Cost of Production Report

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., 6,300 units, 60% completed			21,672
	31	Direct materials, 252,000 units	756,000			777,672
	31	Direct labor	161,500			939,172
	31	Factory overhead	40,420			979,592
	31	Goods transferred, 253,000 units		?
	31	Bal., ? units, 60% 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 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 8a4064f73f96fa9_1
Received from materials storeroom	fill in the blank 8a4064f73f96fa9_2
Total units accounted for by the Roasting Department	fill in the blank 8a4064f73f96fa9_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, July 1	fill in the blank 8a4064f73f96fa9_4	fill in the blank 8a4064f73f96fa9_5	fill in the blank 8a4064f73f96fa9_6
Started and completed in July	fill in the blank 8a4064f73f96fa9_7	fill in the blank 8a4064f73f96fa9_8	fill in the blank 8a4064f73f96fa9_9
Transferred to Packing Department in July	fill in the blank 8a4064f73f96fa9_10	fill in the blank 8a4064f73f96fa9_11	fill in the blank 8a4064f73f96fa9_12
Inventory in process, July 31	fill in the blank 8a4064f73f96fa9_13	fill in the blank 8a4064f73f96fa9_14	fill in the blank 8a4064f73f96fa9_15
Total units to be assigned costs	fill in the blank 8a4064f73f96fa9_16	fill in the blank 8a4064f73f96fa9_17	fill in the blank 8a4064f73f96fa9_18
Cost Information
Costs per equivalent unit:
	Direct Materials	Conversion
Total costs for July in Roasting Department	$fill in the blank 8a4064f73f96fa9_19	$fill in the blank 8a4064f73f96fa9_20
Total equivalent units	fill in the blank 8a4064f73f96fa9_21	fill in the blank 8a4064f73f96fa9_22
Cost per equivalent unit	$fill in the blank 8a4064f73f96fa9_23	$fill in the blank 8a4064f73f96fa9_24
Costs charged to production:
	Direct Materials	Conversion	Total
Inventory in process, July 1			$fill in the blank 8a4064f73f96fa9_25
Costs incurred in July			fill in the blank 8a4064f73f96fa9_26
Total costs accounted for by the Roasting Department			$fill in the blank 8a4064f73f96fa9_27
Cost allocated to completed and partially completed units:
Inventory in process, July 1 balance			$fill in the blank 8a4064f73f96fa9_28
To complete inventory in process, July 1	$fill in the blank 8a4064f73f96fa9_29	$fill in the blank 8a4064f73f96fa9_30	fill in the blank 8a4064f73f96fa9_31
Cost of completed July 1 work in process			$fill in the blank 8a4064f73f96fa9_32
Started and completed in July	fill in the blank 8a4064f73f96fa9_33	fill in the blank 8a4064f73f96fa9_34	fill in the blank 8a4064f73f96fa9_35
Transferred to Packing Department in July			$fill in the blank 8a4064f73f96fa9_36
Inventory in process, July 31	fill in the blank 8a4064f73f96fa9_37	fill in the blank 8a4064f73f96fa9_38	fill in the blank 8a4064f73f96fa9_39
Total costs assigned by the Roasting Department			$fill in the blank 8a4064f73f96fa9_40

Question Content Area

2. Assuming that the July 1 work in process inventory includes $18,270 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 b17c7afcef84f8e_2
Change in conversion cost per equivalent unit

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