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 accountof the Roasting Department at July 31:DateJulyACCOUNT Work in Process-Roasting DepartmentItem1 Bal., 6,300 units, 40% completed31 Direct materials, 252,000 units31 Direct labor31 Factory overhead31 Goods transferred, 253,000 units31 Bal., 2 units, 60% completedRequired:Debit756,000162,30040,628Credit?ACCOUNT NO.DebitBalance20,538776,538938,838979,466?Credit1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount box does notrequire an entry, leave it blank. When computing cost per equivalent units, round to two decimal places. 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount box does notrequire an entry, leave it blank. When computing cost per equivalent units, round to two decimal places.Units charged to production:Inventory in process, July 1Received from materials storeroomMochaccino Express Coffee CompanyCost of Production Report-Roasting DepartmentFor the Month Ended July 31Unit InformationTotal units accounted for by the Roasting DepartmentUnits to be assigned costs:Inventory in process, July 1Started and completed in JulyTransferred to Packing Department in JulyInventory in process, July 31Total units to be assigned costsWholeUnitsEquivalent UnitsDirectMaterialsConversion

Name: Mochaccino Express Coffee Company roasts and packs coffee beans. The
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Description: 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 pa

The equivalent units are calculated on the basis of percentage of the work completed during the…

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lochaccino Express Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Departm rom the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process acco f the Roasting Department at July 31: Date uly ACCOUNT Work in Process-Roasting Department Item 1 Bal., 6,300 units, 40% completed 31 Direct materials, 252,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 253,000 units 31 Bal., 2 units, 60% completed tequired: Debit 756,000 162,300 40,628 Credit ACCOUNT NO. Debit Balance 20,538 776,538 938,838 979,466 Credit L. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount box does

lochaccino Express Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Departm rom the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process acco f the Roasting Department at July 31: Date uly ACCOUNT Work in Process-Roasting Department Item 1 Bal., 6,300 units, 40% completed 31 Direct materials, 252,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 253,000 units 31 Bal., 2 units, 60% completed tequired: Debit 756,000 162,300 40,628 Credit ACCOUNT NO. Debit Balance 20,538 776,538 938,838 979,466 Credit L. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount box does

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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