The debits to Work in Process—Roasting Department for Daybreak Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 700 pounds, 30% completed $4,081* *Direct materials (700 X $5.2) $3,640 Conversion (700 X 30% X $2.1) $441 $4,081 Coffee beans added during August, 22,000 pounds $113,300 Conversion costs during August 48,752 Work in process, August 31, 1,100 pounds, 70% completed ? Goods finished during August, 21,600 pounds ? All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: Direct materials and conversion equivalent units of production for August Direct materials and conversion costs per equivalent unit for August Cost of goods finished during August Cost of work in process at August 31 If an amount box does not require an entry, leave it blank. For the cost per equivalent unit, round your answer to two decimal places. Daybreak 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 fill in the blank 6b9d20018041041_1 Received from materials storeroom fill in the blank 6b9d20018041041_2 Total units accounted for by the Roasting Department fill in the blank 6b9d20018041041_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 fill in the blank 6b9d20018041041_4 fill in the blank 6b9d20018041041_5 fill in the blank 6b9d20018041041_6 Started and completed in August fill in the blank 6b9d20018041041_7 fill in the blank 6b9d20018041041_8 fill in the blank 6b9d20018041041_9 Transferred to finished goods in August fill in the blank 6b9d20018041041_10 fill in the blank 6b9d20018041041_11 fill in the blank 6b9d20018041041_12 Inventory in process, August 31 fill in the blank 6b9d20018041041_13 fill in the blank 6b9d20018041041_14 fill in the blank 6b9d20018041041_15 Total units to be assigned costs fill in the blank 6b9d20018041041_16 fill in the blank 6b9d20018041041_17 fill in the blank 6b9d20018041041_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $fill in the blank 6b9d20018041041_19 $fill in the blank 6b9d20018041041_20 Total equivalent units fill in the blank 6b9d20018041041_21 fill in the blank 6b9d20018041041_22 Cost per equivalent unit (2) $fill in the blank 6b9d20018041041_23 $fill in the blank 6b9d20018041041_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $fill in the blank 6b9d20018041041_25 Costs incurred in August fill in the blank 6b9d20018041041_26 Total costs accounted for by the Roasting Department $fill in the blank 6b9d20018041041_27 Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $fill in the blank 6b9d20018041041_28 To complete inventory in process, August 1 $fill in the blank 6b9d20018041041_29 $fill in the blank 6b9d20018041041_30 fill in the blank 6b9d20018041041_31 Cost of completed August 1 work in process $fill in the blank 6b9d20018041041_32 Started and completed in August fill in the blank 6b9d20018041041_33 fill in the blank 6b9d20018041041_34 fill in the blank 6b9d20018041041_35 Transferred to finished goods in August (3) $fill in the blank 6b9d20018041041_36 Inventory in process, August 31 (4) fill in the blank 6b9d20018041041_37 fill in the blank 6b9d20018041041_38 fill in the blank 6b9d20018041041_39 Total costs assigned by the Roasting Department $fill in the blank 6b9d20018041041_40 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. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank da238b02e01bfb4_2 Change in conversion cost per equivalent unit fill in the blank da238b02e01bfb4_

The debits to Work in Process—Roasting Department for Daybreak Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 700 pounds, 30% completed $4,081* *Direct materials (700 X $5.2) $3,640 Conversion (700 X 30% X $2.1) $441 $4,081 Coffee beans added during August, 22,000 pounds $113,300 Conversion costs during August 48,752 Work in process, August 31, 1,100 pounds, 70% completed ? Goods finished during August, 21,600 pounds ? All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: Direct materials and conversion equivalent units of production for August Direct materials and conversion costs per equivalent unit for August Cost of goods finished during August Cost of work in process at August 31 If an amount box does not require an entry, leave it blank. For the cost per equivalent unit, round your answer to two decimal places. Daybreak 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 fill in the blank 6b9d20018041041_1 Received from materials storeroom fill in the blank 6b9d20018041041_2 Total units accounted for by the Roasting Department fill in the blank 6b9d20018041041_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 fill in the blank 6b9d20018041041_4 fill in the blank 6b9d20018041041_5 fill in the blank 6b9d20018041041_6 Started and completed in August fill in the blank 6b9d20018041041_7 fill in the blank 6b9d20018041041_8 fill in the blank 6b9d20018041041_9 Transferred to finished goods in August fill in the blank 6b9d20018041041_10 fill in the blank 6b9d20018041041_11 fill in the blank 6b9d20018041041_12 Inventory in process, August 31 fill in the blank 6b9d20018041041_13 fill in the blank 6b9d20018041041_14 fill in the blank 6b9d20018041041_15 Total units to be assigned costs fill in the blank 6b9d20018041041_16 fill in the blank 6b9d20018041041_17 fill in the blank 6b9d20018041041_18 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $fill in the blank 6b9d20018041041_19 $fill in the blank 6b9d20018041041_20 Total equivalent units fill in the blank 6b9d20018041041_21 fill in the blank 6b9d20018041041_22 Cost per equivalent unit (2) $fill in the blank 6b9d20018041041_23 $fill in the blank 6b9d20018041041_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $fill in the blank 6b9d20018041041_25 Costs incurred in August fill in the blank 6b9d20018041041_26 Total costs accounted for by the Roasting Department $fill in the blank 6b9d20018041041_27 Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $fill in the blank 6b9d20018041041_28 To complete inventory in process, August 1 $fill in the blank 6b9d20018041041_29 $fill in the blank 6b9d20018041041_30 fill in the blank 6b9d20018041041_31 Cost of completed August 1 work in process $fill in the blank 6b9d20018041041_32 Started and completed in August fill in the blank 6b9d20018041041_33 fill in the blank 6b9d20018041041_34 fill in the blank 6b9d20018041041_35 Transferred to finished goods in August (3) $fill in the blank 6b9d20018041041_36 Inventory in process, August 31 (4) fill in the blank 6b9d20018041041_37 fill in the blank 6b9d20018041041_38 fill in the blank 6b9d20018041041_39 Total costs assigned by the Roasting Department $fill in the blank 6b9d20018041041_40 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. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank da238b02e01bfb4_2 Change in conversion cost per equivalent unit fill in the blank da238b02e01bfb4_

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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The debits to Work in Process—Roasting Department for Daybreak Brew Coffee Company for August, together with information concerning production, are as follows:

Work in process, August 1, 700 pounds, 30% completed			$4,081*
	*Direct materials (700 X $5.2)	$3,640
	Conversion (700 X 30% X $2.1)	$441
	$4,081
Coffee beans added during August, 22,000 pounds			$113,300
Conversion costs during August			48,752
Work in process, August 31, 1,100 pounds, 70% completed			?
Goods finished during August, 21,600 pounds			?

All direct materials are placed in process at the beginning of production.

a. Prepare a cost of production report, presenting the following computations:

Direct materials and conversion equivalent units of production for August
Direct materials and conversion costs per equivalent unit for August
Cost of goods finished during August
Cost of work in process at August 31

If an amount box does not require an entry, leave it blank. For the cost per equivalent unit, round your answer to two decimal places.

Daybreak 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	fill in the blank 6b9d20018041041_1
Received from materials storeroom	fill in the blank 6b9d20018041041_2
Total units accounted for by the Roasting Department	fill in the blank 6b9d20018041041_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials (1)	Conversion (1)
Inventory in process, August 1	fill in the blank 6b9d20018041041_4	fill in the blank 6b9d20018041041_5	fill in the blank 6b9d20018041041_6
Started and completed in August	fill in the blank 6b9d20018041041_7	fill in the blank 6b9d20018041041_8	fill in the blank 6b9d20018041041_9
Transferred to finished goods in August	fill in the blank 6b9d20018041041_10	fill in the blank 6b9d20018041041_11	fill in the blank 6b9d20018041041_12
Inventory in process, August 31	fill in the blank 6b9d20018041041_13	fill in the blank 6b9d20018041041_14	fill in the blank 6b9d20018041041_15
Total units to be assigned costs	fill in the blank 6b9d20018041041_16	fill in the blank 6b9d20018041041_17	fill in the blank 6b9d20018041041_18
Cost Information
Costs per equivalent unit:
	Direct Materials	Conversion
Total costs for August in Roasting Department	$fill in the blank 6b9d20018041041_19	$fill in the blank 6b9d20018041041_20
Total equivalent units	fill in the blank 6b9d20018041041_21	fill in the blank 6b9d20018041041_22
Cost per equivalent unit (2)	$fill in the blank 6b9d20018041041_23	$fill in the blank 6b9d20018041041_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, August 1			$fill in the blank 6b9d20018041041_25
Costs incurred in August			fill in the blank 6b9d20018041041_26
Total costs accounted for by the Roasting Department			$fill in the blank 6b9d20018041041_27
Costs allocated to completed and partially completed units:
Inventory in process, August 1 balance			$fill in the blank 6b9d20018041041_28
To complete inventory in process, August 1	$fill in the blank 6b9d20018041041_29	$fill in the blank 6b9d20018041041_30	fill in the blank 6b9d20018041041_31
Cost of completed August 1 work in process			$fill in the blank 6b9d20018041041_32
Started and completed in August	fill in the blank 6b9d20018041041_33	fill in the blank 6b9d20018041041_34	fill in the blank 6b9d20018041041_35
Transferred to finished goods in August (3)			$fill in the blank 6b9d20018041041_36
Inventory in process, August 31 (4)	fill in the blank 6b9d20018041041_37	fill in the blank 6b9d20018041041_38	fill in the blank 6b9d20018041041_39
Total costs assigned by the Roasting Department			$fill in the blank 6b9d20018041041_40

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.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit		$fill in the blank da238b02e01bfb4_2
Change in conversion cost per equivalent unit		fill in the blank da238b02e01bfb4_4

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