Cost of Production Report: Weighted average method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31: ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 18,900 units, 80% completed 61,614 31 Direct materials, 327,000 units 604,950 666,564 31 Direct labor 330,381 996,945 31 Factory overhead 475,427 1,472,372 31 Goods transferred, 329,800 units ? ? 31 Bal., ? units, 30% completed ? Required: Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process—Roasting Department. Assume that direct materials are placed in process during production. If required, round your cost per equivalent unit answer to two decimal places. Sunrise Coffee Company Cost of Production Report-Roasting Department For the Month Ended December 31 Unit Information Units charged to production: Inventory in process, December 1 fill in the blank 1 Received from materials storeroom fill in the blank 2 Total units accounted for by the Roasting Department fill in the blank 3 Units to be assigned costs: Whole Units Equivalent Units of Production Transferred to Packing Department in December fill in the blank 4 fill in the blank 5 Inventory in process, December 31 fill in the blank 6 fill in the blank 7 Total units to be assigned costs fill in the blank 8 fill in the blank 9 Cost Information Cost per equivalent unit: Costs Total costs for December in Roasting Department $fill in the blank 10 Total equivalent units fill in the blank 11 Cost per equivalent unit $fill in the blank 12 Costs assigned to production: Inventory in process, December 1 $fill in the blank 13 Costs incurred in December fill in the blank 14 Total costs accounted for by the Roasting Department $fill in the blank 15 Costs allocated to completed and partially completed units: Transferred to Packing Department in December $fill in the blank 16 Inventory in process, December 31 fill in the blank 17 Total costs assigned by the Roasting Department $fill in the blank 18

Cost of Production Report: Weighted average method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31: ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 18,900 units, 80% completed 61,614 31 Direct materials, 327,000 units 604,950 666,564 31 Direct labor 330,381 996,945 31 Factory overhead 475,427 1,472,372 31 Goods transferred, 329,800 units ? ? 31 Bal., ? units, 30% completed ? Required: Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process—Roasting Department. Assume that direct materials are placed in process during production. If required, round your cost per equivalent unit answer to two decimal places. Sunrise Coffee Company Cost of Production Report-Roasting Department For the Month Ended December 31 Unit Information Units charged to production: Inventory in process, December 1 fill in the blank 1 Received from materials storeroom fill in the blank 2 Total units accounted for by the Roasting Department fill in the blank 3 Units to be assigned costs: Whole Units Equivalent Units of Production Transferred to Packing Department in December fill in the blank 4 fill in the blank 5 Inventory in process, December 31 fill in the blank 6 fill in the blank 7 Total units to be assigned costs fill in the blank 8 fill in the blank 9 Cost Information Cost per equivalent unit: Costs Total costs for December in Roasting Department $fill in the blank 10 Total equivalent units fill in the blank 11 Cost per equivalent unit $fill in the blank 12 Costs assigned to production: Inventory in process, December 1 $fill in the blank 13 Costs incurred in December fill in the blank 14 Total costs accounted for by the Roasting Department $fill in the blank 15 Costs allocated to completed and partially completed units: Transferred to Packing Department in December $fill in the blank 16 Inventory in process, December 31 fill in the blank 17 Total costs assigned by the Roasting Department $fill in the blank 18

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 5PA: Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department....

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

Cost of Production Report: Weighted average method

Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31:

ACCOUNT Work in Process-Roasting Department	ACCOUNT NO.
Date	Item	Debit	Credit	Balance
Debit	Credit
Dec.	1	Bal., 18,900 units, 80% completed				61,614
	31	Direct materials, 327,000 units	604,950			666,564
	31	Direct labor	330,381			996,945
	31	Factory overhead	475,427			1,472,372
	31	Goods transferred, 329,800 units			?	?
	31	Bal., ? units, 30% completed				?

Required:

Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process—Roasting Department. Assume that direct materials are placed in process during production. If required, round your cost per equivalent unit answer to two decimal places.

Sunrise Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended December 31
Unit Information
Units charged to production:
Inventory in process, December 1	fill in the blank 1
Received from materials storeroom	fill in the blank 2
Total units accounted for by the Roasting Department	fill in the blank 3
Units to be assigned costs:
	Whole Units	Equivalent Units of Production
Transferred to Packing Department in December	fill in the blank 4	fill in the blank 5
Inventory in process, December 31	fill in the blank 6	fill in the blank 7
Total units to be assigned costs	fill in the blank 8	fill in the blank 9
Cost Information
Cost per equivalent unit:
	Costs
Total costs for December in Roasting Department	$fill in the blank 10
Total equivalent units	fill in the blank 11
Cost per equivalent unit	$fill in the blank 12
Costs assigned to production:
Inventory in process, December 1	$fill in the blank 13
Costs incurred in December	fill in the blank 14
Total costs accounted for by the Roasting Department	$fill in the blank 15
Costs allocated to completed and partially completed units:
Transferred to Packing Department in December	$fill in the blank 16
Inventory in process, December 31	fill in the blank 17
Total costs assigned by the Roasting Department	$fill in the blank 18

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.