Fundamental Financial Accounting Concepts
10th Edition
ISBN: 9781259918186
Author: Thomas P Edmonds, Christopher Edmonds, Frances M McNair, Philip R Olds
Publisher: McGraw-Hill Education
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Question
Chapter 10, Problem 20BE
a.
To determine
Prepare an amortization table.
b.
To determine
Describe the items (From the amortization table) that would appear on the Year 2
c.
To determine
Describe the items (From the amortization table) that would appear on the Year 2 income statement.
d.
To determine
Describe the items (From the amortization table) that would appear on the Year 2 statement of
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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, 700 pounds, 10% completed
*Direct materials (700 x $2.60)
Conversion (700 x 10% x $1.00)
Coffee beans added during August, 22,000 pounds
Conversion costs during August
Work in process, August 31, 1,100 pounds, 40% completed
Goods finished during August, 21,600 pounds
<
All direct materials are placed in process at the beginning of production.
$1,890*
$1,820
70
$1,890
56,100
24,167
?
?
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…
Please provide the answer to this financial accounting question using the right approach.
Please help me solve this financial accounting problem with the correct financial process.
Chapter 10 Solutions
Fundamental Financial Accounting Concepts
Ch. 10 - Prob. 1QCh. 10 - Prob. 2QCh. 10 - Prob. 3QCh. 10 - Prob. 4QCh. 10 - Prob. 5QCh. 10 - Prob. 6QCh. 10 - Prob. 7QCh. 10 - Prob. 8QCh. 10 - Prob. 9QCh. 10 - Prob. 10Q
Ch. 10 - Prob. 11QCh. 10 - Prob. 12QCh. 10 - Prob. 13QCh. 10 - Prob. 14QCh. 10 - Prob. 15QCh. 10 - Prob. 16QCh. 10 - Prob. 17QCh. 10 - Prob. 18QCh. 10 - Prob. 19QCh. 10 - Prob. 20QCh. 10 - Prob. 21QCh. 10 - Prob. 22QCh. 10 - Prob. 23QCh. 10 - Prob. 24QCh. 10 - Prob. 25QCh. 10 - Prob. 26QCh. 10 - Prob. 27QCh. 10 - Prob. 28QCh. 10 - Prob. 29QCh. 10 - Prob. 1AECh. 10 - Prob. 2AECh. 10 - Prob. 3AECh. 10 - Prob. 4AECh. 10 - Prob. 5AECh. 10 - Prob. 6AECh. 10 - Prob. 7AECh. 10 - Prob. 8AECh. 10 - Prob. 9AECh. 10 - Prob. 10AECh. 10 - Prob. 11AECh. 10 - Prob. 12AECh. 10 - Prob. 13AECh. 10 - Prob. 14AECh. 10 - Prob. 15AECh. 10 - Prob. 16AECh. 10 - Prob. 17AECh. 10 - Prob. 18AECh. 10 - Prob. 19AECh. 10 - Prob. 20AECh. 10 - Prob. 21AECh. 10 - Prob. 22AECh. 10 - Prob. 23AECh. 10 - Prob. 24AECh. 10 - Prob. 25AECh. 10 - Prob. 26APCh. 10 - Prob. 27APCh. 10 - Prob. 28APCh. 10 - Prob. 29APCh. 10 - Prob. 30APCh. 10 - Prob. 31APCh. 10 - Prob. 32APCh. 10 - Prob. 33APCh. 10 - Prob. 34APCh. 10 - Prob. 1BECh. 10 - Prob. 2BECh. 10 - Prob. 3BECh. 10 - Prob. 4BECh. 10 - Prob. 5BECh. 10 - Prob. 6BECh. 10 - Prob. 7BECh. 10 - Prob. 8BECh. 10 - Prob. 9BECh. 10 - Prob. 10BECh. 10 - Prob. 11BECh. 10 - Prob. 12BECh. 10 - Prob. 13BECh. 10 - Prob. 14BECh. 10 - Prob. 15BECh. 10 - Prob. 16BECh. 10 - Prob. 17BECh. 10 - Prob. 18BECh. 10 - Prob. 19BECh. 10 - Prob. 20BECh. 10 - Prob. 21BECh. 10 - Prob. 22BECh. 10 - Prob. 23BECh. 10 - Prob. 24BECh. 10 - Prob. 25BECh. 10 - Prob. 26BPCh. 10 - Prob. 27BPCh. 10 - Prob. 28BPCh. 10 - Prob. 29BPCh. 10 - Prob. 30BPCh. 10 - Prob. 31BPCh. 10 - Prob. 32BPCh. 10 - Prob. 33BPCh. 10 - Prob. 34BPCh. 10 - Prob. 1ATCCh. 10 - Prob. 3ATCCh. 10 - Prob. 4ATCCh. 10 - Prob. 5ATCCh. 10 - Prob. 6ATCCh. 10 - Prob. 7ATCCh. 10 - Prob. 8ATCCh. 10 - Prob. 9ATCCh. 10 - Prob. 10ATCCh. 10 - Prob. 1CP
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Similar questions
- V 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, 700 pounds, 10% completed *Direct materials (700 x $2.60) Conversion (700 x 10% x $1.00) Coffee beans added during August, 22,000 pounds Conversion costs during August Work in process, August 31, 1,100 pounds, 40% 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: 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 $1,890* $1,820 70 $1,890 56,100 24,167 ? ? If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to the near st cent. Morning…arrow_forwardCan you help me solve this general accounting problem with the correct methodology?arrow_forwardPlease help me solve this financial accounting problem with the correct financial process.arrow_forward
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