Cost of Production Report Mochaccino Express 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., 63,000 units, 90% completed 344,295 31 Direct materials, 324,000 units 1,328,400 1,672,695 31 Direct labor 325,200 1,997,895 31 Factory overhead 120,300 2,118,195 31 Goods transferred, 313,000 units 31 Bal., 2 units, 55% completed Required: 1. Prepare a cost of production report and identify the missing amounts for Work in Process-Roasting Department. If an amount box does not require an entry, leave it blank. When computing cost per equivalent units, round to the nearest cent.

Question

Please show working

Part 1 of the question, see images

 

Part 2 of the question, 

 Assuming that the July 1 work in process inventory includes $256,410 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 two decimal places.

  Increase or Decrease Amount
Change in direct materials cost per equivalent unit   $
Change in conversion cost per equivalent unit   $
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Cost of Production Report
Mochaccino Express 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., 63,000 units, 90% completed
344,295
31 Direct materials, 324,000 units
1,328,400
1,672,695
31 Direct labor
325,200
1,997,895
31 Factory overhead
120,300
2,118,195
31 Goods transferred, 313,000 units
31 Bal., 2 units, 55% completed
Required:
1. Prepare a cost of production report and identify the missing amounts for Work in Process-Roasting Department. If an amount box does not require an entry, leave it blank. When computing cost per equivalent units, round to the
nearest cent.
Expand
Transcribed Image Text

Cost of Production Report Mochaccino Express 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., 63,000 units, 90% completed 344,295 31 Direct materials, 324,000 units 1,328,400 1,672,695 31 Direct labor 325,200 1,997,895 31 Factory overhead 120,300 2,118,195 31 Goods transferred, 313,000 units 31 Bal., 2 units, 55% completed Required: 1. Prepare a cost of production report and identify the missing amounts for Work in Process-Roasting Department. If an amount box does not require an entry, leave it blank. When computing cost per equivalent units, round to the nearest cent.

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