Homework Help is Here – Start Your Trial Now!
Business
Accounting
The debits to Work in Process-Roasting Department for Moning Brew Coffee Compamy for August. together with information concerning prodution, are an follows Work in process, August 1. 900 pounds. 10% completed $3,834 "Direct materials (900 X 54.1) $3.690 Conversion (900 X 10% X $1.6) 144 $3,834 Coffee beans added during August. 28.000 pounds 113,400 Conversion costs during August 47,549 Work in process, August 31. 1.400 pounds, 40% completed Goods finished during August, 27,500 pounds All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August. 2. Direct materials and conversion costs per equivalent unit for August. 3. Cost of goods finished during August. 4. Cost of work in process at August 31. If an amount is zero, enter in "0". For the cost per equivalent unit. round your answer to two decimal places. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31

The debits to Work in Process-Roasting Department for Moning Brew Coffee Compamy for August. together with information concerning prodution, are an follows Work in process, August 1. 900 pounds. 10% completed $3,834 "Direct materials (900 X 54.1) $3.690 Conversion (900 X 10% X $1.6) 144 $3,834 Coffee beans added during August. 28.000 pounds 113,400 Conversion costs during August 47,549 Work in process, August 31. 1.400 pounds, 40% completed Goods finished during August, 27,500 pounds All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August. 2. Direct materials and conversion costs per equivalent unit for August. 3. Cost of goods finished during August. 4. Cost of work in process at August 31. If an amount is zero, enter in "0". For the cost per equivalent unit. round your answer to two decimal places. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Need hep solving this problem Thanks.

st of Production Report The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 900 pounds, 10% completed *Direct materials (900 X $4.1) $3,834* $3,690 Conversion (900 X 10% X $1.6) 144 $3,834 Coffee beans added during August, 28,000 pounds Conversion costs during August 113,400 47,549 Work in process, August 31, 1,400 pounds, 40% completed Goods finished during August, 27,500 pounds All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August. 2. Direct materials and conversion costs per equivalent unit for August. 3. Cost of goods finished during August. 4. Cost of work in process at August 31. If an amount is zero, enter in "O". For the cost per equivalent unit, round your answer to two decimal places. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Unit Information Units charged to production: Inventory in process, August 1 Received from materials storeroom Total units acCounted for by the Roasting Department Units to be assigned costs: Equivalent Units Direct Whole Materials Conversion Units (1) (1) Inventory in process, August 1 900 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total units to be assigned costs Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Previous Next
Transcribed Image Text:st of Production Report The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 900 pounds, 10% completed *Direct materials (900 X $4.1) $3,834* $3,690 Conversion (900 X 10% X $1.6) 144 $3,834 Coffee beans added during August, 28,000 pounds Conversion costs during August 113,400 47,549 Work in process, August 31, 1,400 pounds, 40% completed Goods finished during August, 27,500 pounds All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August. 2. Direct materials and conversion costs per equivalent unit for August. 3. Cost of goods finished during August. 4. Cost of work in process at August 31. If an amount is zero, enter in "O". For the cost per equivalent unit, round your answer to two decimal places. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Unit Information Units charged to production: Inventory in process, August 1 Received from materials storeroom Total units acCounted for by the Roasting Department Units to be assigned costs: Equivalent Units Direct Whole Materials Conversion Units (1) (1) Inventory in process, August 1 900 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total units to be assigned costs Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Previous Next
Equivalent Units Direct Whole Materials Conversion Units (1) (1) Inventory in process, August 1 900 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total units to be assigned costs Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Costs assigned to production: Direct Total Materials Conversion Inventory in process, August 1 Costs incurred in August Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, August i balance To complete inventory in process, August 1 Cost of completed August 1 work in process Started and completed in August Transferred to finished goods in August (3) Inventory in process, August 31 (4) Total costs assigned by the Roasting Department b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to the nearest cent. Amount Increase or Decrease Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit
Transcribed Image Text:Equivalent Units Direct Whole Materials Conversion Units (1) (1) Inventory in process, August 1 900 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total units to be assigned costs Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Costs assigned to production: Direct Total Materials Conversion Inventory in process, August 1 Costs incurred in August Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, August i balance To complete inventory in process, August 1 Cost of completed August 1 work in process Started and completed in August Transferred to finished goods in August (3) Inventory in process, August 31 (4) Total costs assigned by the Roasting Department b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to the nearest cent. Amount Increase or Decrease Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Value Chain Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS