Question

Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

Cost of Production Report

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., 5,100 units, 2/5 completed 17,646
31 Direct materials, 229,500 units 734,400 752,046
31 Direct labor 148,200 900,246
31 Factory overhead 37,112 937,358
31 Goods transferred, 230,000 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 Production Report-Roasting Department
For the Month Ended July 31
Unit Information
Units charged to production:
Inventory in process, July 1
Received from materials storeroom
Total units accounted for by the Roasting Department
Units to be assigned costs:
Equivalent Units
Whole Units Direct Materials Conversion
Inventory in process, July 1
Started and completed in July
Transferred to Packing Department in July
Inventory in process, July 31
Total units to be assigned costs
Cost Information
Cost per equivalent unit:
Direct Materials Conversion
Total costs for July in Roasting Department $ $
Total equivalent units
Cost per equivalent unit $ $
Costs assigned to production:
Direct Materials Conversion Total
Inventory in process, July 1 $
Costs incurred in July
Total costs accounted for by the Roasting Department $
Costs allocated to completed and partially completed units:
Inventory in process, July 1 balance $
To complete inventory in process, July 1 $ $
Cost of completed July 1 work in process $
Started and completed in July
Transferred to Molding Department in July $
Inventory in process, July 31
Total costs assigned by the Roasting Department $

2. Assuming that the July 1 work in process inventory includes $15,810 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent.

Increase or Decrease Amount
Change in direct materials cost per equivalent unit Increase $
Change in conversion cost per equivalent unit Decrease $
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Hana Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Unit Information
Units charged to production:
Inventory in process, July 1 5100
Received from materials storeroom 229500
Total units accounted for by the Roasting Department 234600
Units to be assigned costs:
Equivalent Units
Whole Units Direct Materials Conversion
Inventory in process, July 1 5100 0 3060
Started and completed in July 224900 224900 224900
Transferred to Packing Department in July 230000 224900 227960
Inventory in process, July 31 4600 4600 3680
Total units to be assigned costs 234600 229500 231640
Cost Information
Costs per equivalent unit:
Direct Materials Conversion
Total costs for July in Roasting Department 734400 185312
Total equivalent units 229500 231640
Cost per equivalent unit 3.20 0.80
Costs charged to production:
Direct Materials Conversion Total
Inventory in process, July 1 17646
Costs incurred in July 919712
Total costs accounted for by the Roasting Department 937358
Cost allocated to completed and partially completed units:
Inventory in process, July 1 balance 17646
To complete inventory in process, July 1 0 2448 2448
Cost of completed July 1 work in process 20094
Started and completed in July 719680 179920 899600
Transferred to Packing Department in July 919694
Inventory in process, July 31 14720 2944 17664
Total costs assigned by the Roasting Department 937358
2
Increase or Decrease Amount
Change in direct materials cost per equivalent unit Increase 0.10 =3.2-(15810/5100)
Change in conversion cost per equivalent unit Decrease 0.10 =0.8-((17646-15810)/(5100*2/5))
Add a comment
Know the answer?
Add Answer to:
Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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 308,700 1 Bal., 4,900 units, 1/5 completed 31 Direct materials, 220,500 units 31...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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. Balance Date Item Debit Credit Debit Credit July 1 Bal., 5,900 units, 4/5 completed 10,620 31 Direct materials, 265,500 units 398,250...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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., 7,700 units, 3/5 completed 16,632 31 Direct materials, 346,500 units 658,350...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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. Balance Debit Credit Date Item Debit Credit 6,300 270,000 276,300 330,500 July 1 Bal., 5,000 units, 2/5 completed 31 Direct materials,...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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., 30,000 units, 10% completed 121,800 31 Direct materials, 155,000 units 620,000...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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., 30,000 units, 10% completed 121,800 31 Direct materials, 155,000 units 620,000...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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., 30,000 units, 10% completed 121,800 31 Direct materials, 155,000 units 620,000...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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. Balance Date Item Debit Credit Debit Credit July 20,280 868,530 848,250 165,300 1,033,830 1 Bal., 6,500 units, 2/5 completed 31 Direct...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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. Balance Date Item Debit Credit Debit Credit July 1 Bal., 5,400 units, 2/5 completed 31 Direct materials, 243,000 units 13,932 597,132...

  • Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

    Cost of Production Report 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. Balance Date Item Debit Credit Debit Credit July 1 Bal., 6,400 units, 3/5 completed 20,992 31 Direct materials, 288,000 units 835,200...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT