Question

ghments&takeAssignmentSessionLocator assignment take&inprogress=fa 20-3 Exercises & Problems eBook Calculator 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, 400 pounds, 40% completed $2,360" "Direct materials (400 X $5.1) Conversion (400 X 40% X $2) $320 65,650 Coffee beans added during August, 13,000 pounds Conversion costs during August Work in process, August 31, 700 pounds, 60% completed Goods finished during August, 12,700 pounds 27,216 All direct materials are placed in proces 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 If an amount is zero, enter in . For the cost per equivalent unit, round your answer to two decimal places Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Unit Information Units charged to production trventory in process, August 1 Received from materials storeroom Cred My Work 2 more Check My Wonke maring Assignment Score: 65.63% All work saved Email Instructor Save and Exit

Answer 1

Solution a:

Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Units Information 10 11 400 Units charged to production: Inventory in process, August 1 Received from Materials storeroom Total units accounted for by the Roasting Department 13000 13400 13 14 15 Whole Units Equivalent Units Direct Materials Conversion 16 4001 ol 19 Units to be assigned costs: Inventory in process, August 1 (60% completed) Started and completed in August (12700-400) Transferred to Finished goods in August Inventory in process, August 31 (60% completed) Total units to be assigned costs 12300 12700 700 13400 123001 12300 700 13000 240 12300 12540 420 12960 COSTS Information Direct Materials Conversion Cost per equivalent unit: Total costs for August in Roasting Department /Total equivalent units Cost per equivalent unit $65,650 13000 $5.05 $27,216 12960 $2.10 Direct Materials Conversion Total 35 $2,360 $92,866 $95,226 Costs assigned to production: Inventory in process, August 1 Costs incurred in August Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, August 1-balance To complete inventory in process, August 1 (Equi. Units*cost per Equi. Unit) Cost of completed August 1 work in process Started and completed in August Transferred to Finished Goods in August Inventory in process, August 31 Total costs assigned by the Roasting Department 40 $504 42 $62,115 $25,830 $2,360 $504 $2,864 $87,945 $90,809 $4,417 $95,226 44 $3,535 $882 47 48 59 60 et752 Sheet153 (24) ) Sheet753 Sheet188 (2) Sheet645 (2)

Solution b:

19 20 21 23 Change in Direct materials Cost per Equivalent Unit ($5.05-$5.10) Change in Conversion Cost per Equivalent Unit ($2.10 - $2.00) Increase/ Decrease Amount Decrease -$0.05 Increase $0.10 29 30 31 32 33 34 35 36 37 38 40 41 44 46 49 51 55 57 59 60 61 62 63 et752 Sheet153 (24) ) Sheet753 Sheet188 (2) Sheet645 (2)