Question

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, s0% completed 3,535 Direct materials (700 X $4.2) Conversion (700 X 50% X $1.7) $2,940 $595 $3,535 Coffee beans added during August, 22,000 pounds Conversion costs duning August work process, August 31, 1,100 pounds, 70% completed Goods finished during August, 21,600 pounds 91,300 39,636 All direct materials are placed in process at the beginning of production. < ) Prepare a cost of production report, presenting the following computations: a. 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 two decimal places. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Units charged to production Inventory in process, August

Answer 1

Unit Information
Units Charged to Production
Inventory in Process August 1	700
Received from Material Storeroom	22000
Total Units accounted for by the Roasting Department	22700
Units to assigned costs
	Equivalent Units
	Whole Units	Direct Material	Conversion
Inventory in Process August 1	700	0	350
Started and Completed	20900	20900	20900
Transferred to finished goods	21600	20900	21250
Inventory in Process August 31	1100	1100	770
Total units to be assigned cost	22700	22000	22020
Cost information
	Direct Material	Conversion
Total Cost for august Roasting Department	91300	39636
Total Equivalent Units	22000	22020
Cost Per Equivalent unit	4.15	1.80
Cost assigned to Production
	Direct Material	Conversion	Total
Inventory in Process August 1			3535
Cost incurred in August			130936
Total Cost accounted for by the Roasting Department			134471
Cost allocated to complete and Partially Completed units
Inventory in Process August 1			3535
To Complete inventory in process august 1	0	630	630
Cost of completed in August1 work in Process			4165
Started and Completed in August	86735	37620	124355
Transferred to finished goods			128520
Inventory in Process August 31	4565	1386	5951
Total Cost assigned by the Roasting Department			134471

b