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, 1,200 pounds, 20% completed $3,240* *Direct materials (1,200 X $2.50) $3,000 Conversion (1,200 X 20% X $1.00) 240 $3,240 Coffee beans added during August, 38,000 pounds 93,100 Conversion costs during August 42,196 Work in process, August 31, 2,000 pounds, 70% completed ? Goods finished during August, 37,200 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 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 Unit Information Units charged to production: Inventory in process, August 1 fill in the blank e39c8bf60ff206c_1 Received from materials storeroom fill in the blank e39c8bf60ff206c_2 Total units accounted for by the Roasting Department fill in the blank e39c8bf60ff206c_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 fill in the blank e39c8bf60ff206c_4 fill in the blank e39c8bf60ff206c_5 fill in the blank e39c8bf60ff206c_6 Started and completed in August fill in the blank e39c8bf60ff206c_7 fill in the blank e39c8bf60ff206c_8 fill in the blank e39c8bf60ff206c_9 Transferred to finished goods in August fill in the blank e39c8bf60ff206c_10 fill in the blank e39c8bf60ff206c_11 fill in the blank e39c8bf60ff206c_12 Inventory in process, August 31 fill in the blank e39c8bf60ff206c_13 fill in the blank e39c8bf60ff206c_14 fill in the blank e39c8bf60ff206c_15 Total units to be assigned costs fill in the blank e39c8bf60ff206c_16 fill in the blank e39c8bf60ff206c_17 fill in the blank e39c8bf60ff206c_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $fill in the blank e39c8bf60ff206c_19 $fill in the blank e39c8bf60ff206c_20 Total equivalent units fill in the blank e39c8bf60ff206c_21 fill in the blank e39c8bf60ff206c_22 Cost per equivalent unit (2) $fill in the blank e39c8bf60ff206c_23 $fill in the blank e39c8bf60ff206c_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $fill in the blank e39c8bf60ff206c_25 Costs incurred in August fill in the blank e39c8bf60ff206c_26 Total costs accounted for by the Roasting Department $fill in the blank e39c8bf60ff206c_27 Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $fill in the blank e39c8bf60ff206c_28 To complete inventory in process, August 1 $fill in the blank e39c8bf60ff206c_29 $fill in the blank e39c8bf60ff206c_30 fill in the blank e39c8bf60ff206c_31 Cost of completed August 1 work in process $fill in the blank e39c8bf60ff206c_32 Started and completed in August fill in the blank e39c8bf60ff206c_33 fill in the blank e39c8bf60ff206c_34 fill in the blank e39c8bf60ff206c_35 Transferred to finished goods in August (3) $fill in the blank e39c8bf60ff206c_36 Inventory in process, August 31 (4) fill in the blank e39c8bf60ff206c_37 fill in the blank e39c8bf60ff206c_38 fill in the blank e39c8bf60ff206c_39 Total costs assigned by the Roasting Department $fill in the blank e39c8bf60ff206c_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 21b85cff1fcafcf_2 Change in conversion cost per equivalent unit $fill in the blank 21b85cff1fcafcf_4

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, 1,200 pounds, 20% completed $3,240* *Direct materials (1,200 X $2.50) $3,000 Conversion (1,200 X 20% X $1.00) 240 $3,240 Coffee beans added during August, 38,000 pounds 93,100 Conversion costs during August 42,196 Work in process, August 31, 2,000 pounds, 70% completed ? Goods finished during August, 37,200 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 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 Unit Information Units charged to production: Inventory in process, August 1 fill in the blank e39c8bf60ff206c_1 Received from materials storeroom fill in the blank e39c8bf60ff206c_2 Total units accounted for by the Roasting Department fill in the blank e39c8bf60ff206c_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 fill in the blank e39c8bf60ff206c_4 fill in the blank e39c8bf60ff206c_5 fill in the blank e39c8bf60ff206c_6 Started and completed in August fill in the blank e39c8bf60ff206c_7 fill in the blank e39c8bf60ff206c_8 fill in the blank e39c8bf60ff206c_9 Transferred to finished goods in August fill in the blank e39c8bf60ff206c_10 fill in the blank e39c8bf60ff206c_11 fill in the blank e39c8bf60ff206c_12 Inventory in process, August 31 fill in the blank e39c8bf60ff206c_13 fill in the blank e39c8bf60ff206c_14 fill in the blank e39c8bf60ff206c_15 Total units to be assigned costs fill in the blank e39c8bf60ff206c_16 fill in the blank e39c8bf60ff206c_17 fill in the blank e39c8bf60ff206c_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $fill in the blank e39c8bf60ff206c_19 $fill in the blank e39c8bf60ff206c_20 Total equivalent units fill in the blank e39c8bf60ff206c_21 fill in the blank e39c8bf60ff206c_22 Cost per equivalent unit (2) $fill in the blank e39c8bf60ff206c_23 $fill in the blank e39c8bf60ff206c_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $fill in the blank e39c8bf60ff206c_25 Costs incurred in August fill in the blank e39c8bf60ff206c_26 Total costs accounted for by the Roasting Department $fill in the blank e39c8bf60ff206c_27 Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $fill in the blank e39c8bf60ff206c_28 To complete inventory in process, August 1 $fill in the blank e39c8bf60ff206c_29 $fill in the blank e39c8bf60ff206c_30 fill in the blank e39c8bf60ff206c_31 Cost of completed August 1 work in process $fill in the blank e39c8bf60ff206c_32 Started and completed in August fill in the blank e39c8bf60ff206c_33 fill in the blank e39c8bf60ff206c_34 fill in the blank e39c8bf60ff206c_35 Transferred to finished goods in August (3) $fill in the blank e39c8bf60ff206c_36 Inventory in process, August 31 (4) fill in the blank e39c8bf60ff206c_37 fill in the blank e39c8bf60ff206c_38 fill in the blank e39c8bf60ff206c_39 Total costs assigned by the Roasting Department $fill in the blank e39c8bf60ff206c_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 21b85cff1fcafcf_2 Change in conversion cost per equivalent unit $fill in the blank 21b85cff1fcafcf_4

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

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, 1,200 pounds, 20% completed			$3,240*
	*Direct materials (1,200 X $2.50)	$3,000
	Conversion (1,200 X 20% X $1.00)	240
	$3,240
Coffee beans added during August, 38,000 pounds			93,100
Conversion costs during August			42,196
Work in process, August 31, 2,000 pounds, 70% completed			?
Goods finished during August, 37,200 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 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
Unit Information
Units charged to production:
Inventory in process, August 1	fill in the blank e39c8bf60ff206c_1
Received from materials storeroom	fill in the blank e39c8bf60ff206c_2
Total units accounted for by the Roasting Department	fill in the blank e39c8bf60ff206c_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials (1)	Conversion (1)
Inventory in process, August 1	fill in the blank e39c8bf60ff206c_4	fill in the blank e39c8bf60ff206c_5	fill in the blank e39c8bf60ff206c_6
Started and completed in August	fill in the blank e39c8bf60ff206c_7	fill in the blank e39c8bf60ff206c_8	fill in the blank e39c8bf60ff206c_9
Transferred to finished goods in August	fill in the blank e39c8bf60ff206c_10	fill in the blank e39c8bf60ff206c_11	fill in the blank e39c8bf60ff206c_12
Inventory in process, August 31	fill in the blank e39c8bf60ff206c_13	fill in the blank e39c8bf60ff206c_14	fill in the blank e39c8bf60ff206c_15
Total units to be assigned costs	fill in the blank e39c8bf60ff206c_16	fill in the blank e39c8bf60ff206c_17	fill in the blank e39c8bf60ff206c_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for August in Roasting Department	$fill in the blank e39c8bf60ff206c_19	$fill in the blank e39c8bf60ff206c_20
Total equivalent units	fill in the blank e39c8bf60ff206c_21	fill in the blank e39c8bf60ff206c_22
Cost per equivalent unit (2)	$fill in the blank e39c8bf60ff206c_23	$fill in the blank e39c8bf60ff206c_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, August 1			$fill in the blank e39c8bf60ff206c_25
Costs incurred in August			fill in the blank e39c8bf60ff206c_26
Total costs accounted for by the Roasting Department			$fill in the blank e39c8bf60ff206c_27
Costs allocated to completed and partially completed units:
Inventory in process, August 1 balance			$fill in the blank e39c8bf60ff206c_28
To complete inventory in process, August 1	$fill in the blank e39c8bf60ff206c_29	$fill in the blank e39c8bf60ff206c_30	fill in the blank e39c8bf60ff206c_31
Cost of completed August 1 work in process			$fill in the blank e39c8bf60ff206c_32
Started and completed in August	fill in the blank e39c8bf60ff206c_33	fill in the blank e39c8bf60ff206c_34	fill in the blank e39c8bf60ff206c_35
Transferred to finished goods in August (3)			$fill in the blank e39c8bf60ff206c_36
Inventory in process, August 31 (4)	fill in the blank e39c8bf60ff206c_37	fill in the blank e39c8bf60ff206c_38	fill in the blank e39c8bf60ff206c_39
Total costs assigned by the Roasting Department			$fill in the blank e39c8bf60ff206c_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 21b85cff1fcafcf_2
Change in conversion cost per equivalent unit		$fill in the blank 21b85cff1fcafcf_4

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