ul 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 epartment. The following is a partial work in process account of the Roasting Department at March 31: ACCOUNT Work in Process-Roasting Department Date Item March 1 Bal., 7,200 units, 3/5 completed 31 Direct materials, 324,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 325,000 units 31 Bal., 2 units, 1/5 completed Debit Credit 810,000 154,500 38,652 ? ACCOUNT NO. Balance Balance Debit Credit 20,304 830,304 984,804 1,023,456 ?' equired: - Prepare a cost production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to the marest cent.

ul 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 epartment. The following is a partial work in process account of the Roasting Department at March 31: ACCOUNT Work in Process-Roasting Department Date Item March 1 Bal., 7,200 units, 3/5 completed 31 Direct materials, 324,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 325,000 units 31 Bal., 2 units, 1/5 completed Debit Credit 810,000 154,500 38,652 ? ACCOUNT NO. Balance Balance Debit Credit 20,304 830,304 984,804 1,023,456 ?' equired: - Prepare a cost production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to the marest cent.

Name: >Cost of Production ReportLui Coffee Company roasts and packs coffee
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: >Cost of Production ReportLui 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 PackingDepartment. The follow

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): Work in Process-Mixing Department 28,000 June 1 balance Materials Direct labor Overhead June 30 balance Debit 120,000 79,500 97,000 Foundational 5-7 (Static) Credit Completed and transferred to Finished Goods ? The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 50% complete with respect to conversion. During June, 37,500 units were started into production. The June 30 work in process inventory consisted of 8,000 units that were 100% complete with respect to materials and…
Hana 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., 6,400 units, 1/5 completed 20,992 31 Direct materials, 288,000 units 921,600 942,592 31 Direct labor 186,900 1,129,492 31 Factory overhead 46,732 1,176,224 31 Goods transferred, 289,000 units ? 31 Bal., ? units, 4/5 completed ? Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to two decimal places. Hana Coffee Company Cost of…
The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Mar. 1 Bal., 5,100 units, 1/3 completed 11,645 31 Direct materials, 91,800 units 183,600 195,245 31 Direct labor 53,940 249,185 31 Factory overhead 30,336 279,521 31 Goods finished, 93,000 units 269,615 9,906 31 Bal. ? units, 3/5 completed 9,906 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during March 4. Cost of units started and completed during March 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent unit increase,…
The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item Balance Debit Credit Debit Credit Mar. 1 Bal., 5,100 units, 4/5 completed 11,322 31 Direct materials, 91,800 units 156,060 167,382 31 Direct labor 41,230 208,612 31 Factory overhead 23,198 231,810 31 Goods finished, 93,000 units 222,996 8,814 31 Bal. ? units, 4/5 completed 8,814 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during March 4. Cost of units started and completed during March 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent unit increase,…
Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses a process cost system to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process—Rolling on September 1 and debits to the account during September were as follows: Bal., 1,000 units, 40% completed: Direct materials (1,000 x $6.20) $ 6,200 Conversion (1,000 x 40% x $2.60) 1,040 $ 7,240 From Smelting Department, 22,800 units $143,640 Direct labor 38,329 Factory overhead 20,639 During September, 1,000 units in process on September 1 were completed, and of the 22,800 units entering the department, all were completed except 2,400 units that were 70% completed. Charges to Work in Process—Rolling for October were as follows: From Smelting Department, 26,200 units $170,300 Direct labor 48,760 Factory…