he 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, 20% completed $ 3,479* *Direct materials (700 X $4.70) $3,290 Conversion (700 X 20% X $1.35) 189 $3,479 Coffee beans added during August, 14,300 pounds 65,780 Conversion costs during August 21,942 Work in process, August 31, 400 pounds, 42% completed ? Goods finished during August, 14,600 pounds ? All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: Direct materials and conversion equivalent units of production for August Direct materials and conversion costs per equivalent unit for August Cost of goods finished during August 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 the nearest cent. Morning Brew Coffee Company Cost of Production Report—Roasting Department For the Month Ended August 31 Unit Information Units charged to production: Inventory in process, August 1 fill in the blank 537618fd1fe5076_1 Received from materials storeroom fill in the blank 537618fd1fe5076_2 Total units accounted for by the Roasting Department fill in the blank 537618fd1fe5076_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 fill in the blank 537618fd1fe5076_4 fill in the blank 537618fd1fe5076_5 fill in the blank 537618fd1fe5076_6 Started and completed in August fill in the blank 537618fd1fe5076_7 fill in the blank 537618fd1fe5076_8 fill in the blank 537618fd1fe5076_9 Transferred to finished goods in August fill in the blank 537618fd1fe5076_10 fill in the blank 537618fd1fe5076_11 fill in the blank 537618fd1fe5076_12 Inventory in process, August 31 fill in the blank 537618fd1fe5076_13 fill in the blank 537618fd1fe5076_14 fill in the blank 537618fd1fe5076_15 Total units to be assigned costs fill in the blank 537618fd1fe5076_16 fill in the blank 537618fd1fe5076_17 fill in the blank 537618fd1fe5076_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $fill in the blank 537618fd1fe5076_19 $fill in the blank 537618fd1fe5076_20 Total equivalent units fill in the blank 537618fd1fe5076_21 fill in the blank 537618fd1fe5076_22 Cost per equivalent unit (2) $fill in the blank 537618fd1fe5076_23 $fill in the blank 537618fd1fe5076_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $fill in the blank 537618fd1fe5076_25 Costs incurred in August fill in the blank 537618fd1fe5076_26 Total costs accounted for by the Roasting Department $fill in the blank 537618fd1fe5076_27 Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $fill in the blank 537618fd1fe5076_28 To complete inventory in process, August 1 $fill in the blank 537618fd1fe5076_29 $fill in the blank 537618fd1fe5076_30 fill in the blank 537618fd1fe5076_31 Cost of completed August 1 work in process $fill in the blank 537618fd1fe5076_32 Started and completed in August fill in the blank 537618fd1fe5076_33 fill in the blank 537618fd1fe5076_34 fill in the blank 537618fd1fe5076_35 Transferred to finished goods in August (3) $fill in the blank 537618fd1fe5076_36 Inventory in process, August 31 (4) fill in the blank 537618fd1fe5076_37 fill in the blank 537618fd1fe5076_38 fill in the blank 537618fd1fe5076_39 Total costs assigned by the Roasting Department $fill in the blank 537618fd1fe5076_40 b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank 246277f6201a01b_2 Change in conversion cost per equivalent unit $fill in the blank 246277f6201a01b_4

he 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, 20% completed $ 3,479* *Direct materials (700 X $4.70) $3,290 Conversion (700 X 20% X $1.35) 189 $3,479 Coffee beans added during August, 14,300 pounds 65,780 Conversion costs during August 21,942 Work in process, August 31, 400 pounds, 42% completed ? Goods finished during August, 14,600 pounds ? All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: Direct materials and conversion equivalent units of production for August Direct materials and conversion costs per equivalent unit for August Cost of goods finished during August 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 the nearest cent. Morning Brew Coffee Company Cost of Production Report—Roasting Department For the Month Ended August 31 Unit Information Units charged to production: Inventory in process, August 1 fill in the blank 537618fd1fe5076_1 Received from materials storeroom fill in the blank 537618fd1fe5076_2 Total units accounted for by the Roasting Department fill in the blank 537618fd1fe5076_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 fill in the blank 537618fd1fe5076_4 fill in the blank 537618fd1fe5076_5 fill in the blank 537618fd1fe5076_6 Started and completed in August fill in the blank 537618fd1fe5076_7 fill in the blank 537618fd1fe5076_8 fill in the blank 537618fd1fe5076_9 Transferred to finished goods in August fill in the blank 537618fd1fe5076_10 fill in the blank 537618fd1fe5076_11 fill in the blank 537618fd1fe5076_12 Inventory in process, August 31 fill in the blank 537618fd1fe5076_13 fill in the blank 537618fd1fe5076_14 fill in the blank 537618fd1fe5076_15 Total units to be assigned costs fill in the blank 537618fd1fe5076_16 fill in the blank 537618fd1fe5076_17 fill in the blank 537618fd1fe5076_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $fill in the blank 537618fd1fe5076_19 $fill in the blank 537618fd1fe5076_20 Total equivalent units fill in the blank 537618fd1fe5076_21 fill in the blank 537618fd1fe5076_22 Cost per equivalent unit (2) $fill in the blank 537618fd1fe5076_23 $fill in the blank 537618fd1fe5076_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $fill in the blank 537618fd1fe5076_25 Costs incurred in August fill in the blank 537618fd1fe5076_26 Total costs accounted for by the Roasting Department $fill in the blank 537618fd1fe5076_27 Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $fill in the blank 537618fd1fe5076_28 To complete inventory in process, August 1 $fill in the blank 537618fd1fe5076_29 $fill in the blank 537618fd1fe5076_30 fill in the blank 537618fd1fe5076_31 Cost of completed August 1 work in process $fill in the blank 537618fd1fe5076_32 Started and completed in August fill in the blank 537618fd1fe5076_33 fill in the blank 537618fd1fe5076_34 fill in the blank 537618fd1fe5076_35 Transferred to finished goods in August (3) $fill in the blank 537618fd1fe5076_36 Inventory in process, August 31 (4) fill in the blank 537618fd1fe5076_37 fill in the blank 537618fd1fe5076_38 fill in the blank 537618fd1fe5076_39 Total costs assigned by the Roasting Department $fill in the blank 537618fd1fe5076_40 b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank 246277f6201a01b_2 Change in conversion cost per equivalent unit $fill in the blank 246277f6201a01b_4

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 1CMA: During December, Krause Chemical Company had the following selected data concerning the manufacture...

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Question

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, 20% completed			$ 3,479*
	*Direct materials (700 X $4.70)	$3,290
	Conversion (700 X 20% X $1.35)	189
	$3,479
Coffee beans added during August, 14,300 pounds			65,780
Conversion costs during August			21,942
Work in process, August 31, 400 pounds, 42% completed			?
Goods finished during August, 14,600 pounds			?

All direct materials are placed in process at the beginning of production.

a. Prepare a cost of production report, presenting the following computations:

Direct materials and conversion equivalent units of production for August
Direct materials and conversion costs per equivalent unit for August
Cost of goods finished during August
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 the nearest cent.

Morning Brew Coffee Company
Cost of Production Report—Roasting Department
For the Month Ended August 31
Unit Information
Units charged to production:
Inventory in process, August 1	fill in the blank 537618fd1fe5076_1
Received from materials storeroom	fill in the blank 537618fd1fe5076_2
Total units accounted for by the Roasting Department	fill in the blank 537618fd1fe5076_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials (1)	Conversion (1)
Inventory in process, August 1	fill in the blank 537618fd1fe5076_4	fill in the blank 537618fd1fe5076_5	fill in the blank 537618fd1fe5076_6
Started and completed in August	fill in the blank 537618fd1fe5076_7	fill in the blank 537618fd1fe5076_8	fill in the blank 537618fd1fe5076_9
Transferred to finished goods in August	fill in the blank 537618fd1fe5076_10	fill in the blank 537618fd1fe5076_11	fill in the blank 537618fd1fe5076_12
Inventory in process, August 31	fill in the blank 537618fd1fe5076_13	fill in the blank 537618fd1fe5076_14	fill in the blank 537618fd1fe5076_15
Total units to be assigned costs	fill in the blank 537618fd1fe5076_16	fill in the blank 537618fd1fe5076_17	fill in the blank 537618fd1fe5076_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for August in Roasting Department	$fill in the blank 537618fd1fe5076_19	$fill in the blank 537618fd1fe5076_20
Total equivalent units	fill in the blank 537618fd1fe5076_21	fill in the blank 537618fd1fe5076_22
Cost per equivalent unit (2)	$fill in the blank 537618fd1fe5076_23	$fill in the blank 537618fd1fe5076_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, August 1			$fill in the blank 537618fd1fe5076_25
Costs incurred in August			fill in the blank 537618fd1fe5076_26
Total costs accounted for by the Roasting Department			$fill in the blank 537618fd1fe5076_27
Costs allocated to completed and partially completed units:
Inventory in process, August 1 balance			$fill in the blank 537618fd1fe5076_28
To complete inventory in process, August 1	$fill in the blank 537618fd1fe5076_29	$fill in the blank 537618fd1fe5076_30	fill in the blank 537618fd1fe5076_31
Cost of completed August 1 work in process			$fill in the blank 537618fd1fe5076_32
Started and completed in August	fill in the blank 537618fd1fe5076_33	fill in the blank 537618fd1fe5076_34	fill in the blank 537618fd1fe5076_35
Transferred to finished goods in August (3)			$fill in the blank 537618fd1fe5076_36
Inventory in process, August 31 (4)	fill in the blank 537618fd1fe5076_37	fill in the blank 537618fd1fe5076_38	fill in the blank 537618fd1fe5076_39
Total costs assigned by the Roasting Department			$fill in the blank 537618fd1fe5076_40

b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to two decimal places.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit		$fill in the blank 246277f6201a01b_2
Change in conversion cost per equivalent unit		$fill in the blank 246277f6201a01b_4

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