Cost of Production Report roasts and packs coffee beans. The process begins by p
ID: 2338838 • Letter: C
Question
Cost of Production Report roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department Department at July 31 From the Roesting Depertment, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 7,446 328,746 03,646 397,410 ul 1 Bal., 5,100 units, 2/5 completed 321,300 54,900 13,764 31 Direct materials, 229,500 units 31 Direct labor Factory overhead 31 Goods transferred, 230,000 units 1 Bal, 7 units, 1/5 completed Required: report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "o". When computing cost per equivalent units, round to two decimal places. Hana Coffee Company Cost of Production Report-Roasting Department Units charged to production Inventory in process, July Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs Equivalent Unts Whole DirectConversion tnventory in process, JulyExplanation / Answer
FIFO method Beggining units 5100 Transferred out 2,30,000 Started into production 229500 Ending units 4,600 234600 234600 Equivalent units Material Conversion Beginning units 5100 5100 Completion in current period 0% 60% A 0 3060 Units started and completed 224900 224900 Completion 100% 100% B 224900 224900 Ending Units 4,600 4,600 Completion 100% 20% C 4600 920 Total units A+B+C 229500 228880 Cost per equivalent units Per unit cost Cost Total units Per unit cost Material cost 321300 229500 1.40 Conversion cost 68664 228880 0.30 Total 389964 1.70 Cost of goods sold Material convertion cost Beginning work in progress A 6630 816 7446 Beginning inventory completed Completion 0% 60% Per unit cost 1.40 0.30 Units 5100 5100 Total cost B 0 918 918 Units started and completed Completion 100% 100% Per unit cost 1.40 0.30 Units 224900 224900 Total cost C 314860 67470 382330 Total cost A+B+C 321490 68388 390694 Ending work in progress Completion 100% 20% Per unit cost 1.40 0.30 Units 4,600 4,600 Total cost 6440 276 6716 Cost per equivalent unit Material Conversion cost For current period 1.40 0.30 For beginning inventory 1.3 0.40 increase (decrease) 0.1 -0.10