Cost of Production ReportThe debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with informWork in process, August 1, 900 pounds, 30% completed$4,626**Direct materials (900 X $4.60)$4,140Conversion (900 X 30% X $1.80)486$4,626Coffee beans added during August, 28,000 pounds127,400Conversion costs during August53,333Work in process, August 31, 1,400 pounds, 60% completedGoods finished during August, 27,500 pounds?All direct materials are placed in process 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 August2. Direct materials and conversion costs per equivalent unit for August3. Cost of goods finished during August4. Cost of work in process at August 31If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places.Morning Brew Coffee CompanyCost of Production Report-Roasting DepartmentFor the Month Ended August 31 Cost per equivalent unit:DirectConversionMaterialsTotal costs for August in Roasting Department127,400 V $ 53,333Total equivalent units28,00028,0704.551.90Cost per equivalent unit (2)Costs assigned to production:DirectConversionTotalMaterialsInventory in process, August 14,626Costs incurred in August180,733Total costs accounted for by the Roasting Department185,359Costs allocated to completed and partially completed units:Inventory in process, August 1 balance4,626To complete inventory in process, August 11,100 XCost of completed August 1 work in processStarted and completed in AugustTransferred to finished goods in August (3)Inventory in process, August 31 (4)Total costs assigned by the Roasting Department%2400%24

The total cost incurred during August will be allocated on the units it incurred (beginning WIP and…

The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with infor Work in process, August 1, 900 pounds, 30% completed $4,626* *Direct materials (900 X $4.60) $4,140 Conversion (900 X 30% X $1.80) 486 $4,626 Coffee beans added during August, 28,000 pounds 127,400 Conversion costs during August 53,333 Work in process, August 31, 1,400 pounds, 60% completed Goods finished during August, 27,500 pounds All direct materials are placed in process 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

The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with infor Work in process, August 1, 900 pounds, 30% completed $4,626* *Direct materials (900 X $4.60) $4,140 Conversion (900 X 30% X $1.80) 486 $4,626 Coffee beans added during August, 28,000 pounds 127,400 Conversion costs during August 53,333 Work in process, August 31, 1,400 pounds, 60% completed Goods finished during August, 27,500 pounds All direct materials are placed in process 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

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 2PA: Cost of production report Hana Coffee Company roasts and packs coffee beans. The process begins by...

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