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, 500 pounds, 20% completed $2,430* *Direct materials (500 X $4.50) $2,250 Conversion (500 X 20% X $1.80) 180 $2,430 Coffee beans added during August, 16,000 pounds 71,200 Conversion costs during August 30,096 Work in process, August 31, 800 pounds, 30% completed ? Goods finished during August, 15,700 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 two decimal places. 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 3aed2bf91067fa8_1 Received from materials storeroom fill in the blank 3aed2bf91067fa8_2 Total units accounted for by the Roasting Department fill in the blank 3aed2bf91067fa8_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 fill in the blank 3aed2bf91067fa8_4 fill in the blank 3aed2bf91067fa8_5 fill in the blank 3aed2bf91067fa8_6 Started and completed in August fill in the blank 3aed2bf91067fa8_7 fill in the blank 3aed2bf91067fa8_8 fill in the blank 3aed2bf91067fa8_9 Transferred to finished goods in August fill in the blank 3aed2bf91067fa8_10 fill in the blank 3aed2bf91067fa8_11 fill in the blank 3aed2bf91067fa8_12 Inventory in process, August 31 fill in the blank 3aed2bf91067fa8_13 fill in the blank 3aed2bf91067fa8_14 fill in the blank 3aed2bf91067fa8_15 Total units to be assigned costs fill in the blank 3aed2bf91067fa8_16 fill in the blank 3aed2bf91067fa8_17 fill in the blank 3aed2bf91067fa8_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $fill in the blank 3aed2bf91067fa8_19 $fill in the blank 3aed2bf91067fa8_20 Total equivalent units fill in the blank 3aed2bf91067fa8_21 fill in the blank 3aed2bf91067fa8_22 Cost per equivalent unit (2) $fill in the blank 3aed2bf91067fa8_23 $fill in the blank 3aed2bf91067fa8_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $fill in the blank 3aed2bf91067fa8_25 Costs incurred in August fill in the blank 3aed2bf91067fa8_26 Total costs accounted for by the Roasting Department $fill in the blank 3aed2bf91067fa8_27 Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $fill in the blank 3aed2bf91067fa8_28 To complete inventory in process, August 1 $fill in the blank 3aed2bf91067fa8_29 $fill in the blank 3aed2bf91067fa8_30 fill in the blank 3aed2bf91067fa8_31 Cost of completed August 1 work in process $fill in the blank 3aed2bf91067fa8_32 Started and completed in August fill in the blank 3aed2bf91067fa8_33 fill in the blank 3aed2bf91067fa8_34 fill in the blank 3aed2bf91067fa8_35 Transferred to finished goods in August (3) $fill in the blank 3aed2bf91067fa8_36 Inventory in process, August 31 (4) fill in the blank 3aed2bf91067fa8_37 fill in the blank 3aed2bf91067fa8_38 fill in the blank 3aed2bf91067fa8_39 Total costs assigned by the Roasting Department $fill in the blank 3aed2bf91067fa8_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 the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank db5aef083025055_2 Change in conversion cost per equivalent unit $fill in the blank db5aef083025055_4

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, 500 pounds, 20% completed $2,430* *Direct materials (500 X $4.50) $2,250 Conversion (500 X 20% X $1.80) 180 $2,430 Coffee beans added during August, 16,000 pounds 71,200 Conversion costs during August 30,096 Work in process, August 31, 800 pounds, 30% completed ? Goods finished during August, 15,700 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 two decimal places. 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 3aed2bf91067fa8_1 Received from materials storeroom fill in the blank 3aed2bf91067fa8_2 Total units accounted for by the Roasting Department fill in the blank 3aed2bf91067fa8_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 fill in the blank 3aed2bf91067fa8_4 fill in the blank 3aed2bf91067fa8_5 fill in the blank 3aed2bf91067fa8_6 Started and completed in August fill in the blank 3aed2bf91067fa8_7 fill in the blank 3aed2bf91067fa8_8 fill in the blank 3aed2bf91067fa8_9 Transferred to finished goods in August fill in the blank 3aed2bf91067fa8_10 fill in the blank 3aed2bf91067fa8_11 fill in the blank 3aed2bf91067fa8_12 Inventory in process, August 31 fill in the blank 3aed2bf91067fa8_13 fill in the blank 3aed2bf91067fa8_14 fill in the blank 3aed2bf91067fa8_15 Total units to be assigned costs fill in the blank 3aed2bf91067fa8_16 fill in the blank 3aed2bf91067fa8_17 fill in the blank 3aed2bf91067fa8_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $fill in the blank 3aed2bf91067fa8_19 $fill in the blank 3aed2bf91067fa8_20 Total equivalent units fill in the blank 3aed2bf91067fa8_21 fill in the blank 3aed2bf91067fa8_22 Cost per equivalent unit (2) $fill in the blank 3aed2bf91067fa8_23 $fill in the blank 3aed2bf91067fa8_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $fill in the blank 3aed2bf91067fa8_25 Costs incurred in August fill in the blank 3aed2bf91067fa8_26 Total costs accounted for by the Roasting Department $fill in the blank 3aed2bf91067fa8_27 Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $fill in the blank 3aed2bf91067fa8_28 To complete inventory in process, August 1 $fill in the blank 3aed2bf91067fa8_29 $fill in the blank 3aed2bf91067fa8_30 fill in the blank 3aed2bf91067fa8_31 Cost of completed August 1 work in process $fill in the blank 3aed2bf91067fa8_32 Started and completed in August fill in the blank 3aed2bf91067fa8_33 fill in the blank 3aed2bf91067fa8_34 fill in the blank 3aed2bf91067fa8_35 Transferred to finished goods in August (3) $fill in the blank 3aed2bf91067fa8_36 Inventory in process, August 31 (4) fill in the blank 3aed2bf91067fa8_37 fill in the blank 3aed2bf91067fa8_38 fill in the blank 3aed2bf91067fa8_39 Total costs assigned by the Roasting Department $fill in the blank 3aed2bf91067fa8_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 the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank db5aef083025055_2 Change in conversion cost per equivalent unit $fill in the blank db5aef083025055_4

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter17: Process Cost Systems

Section: Chapter Questions

Problem 4PA: Work in process account data for two months; cost of production reports Hearty Soup Co. uses a...

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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, 500 pounds, 20% completed			$2,430*
	*Direct materials (500 X $4.50)	$2,250
	Conversion (500 X 20% X $1.80)	180
	$2,430
Coffee beans added during August, 16,000 pounds			71,200
Conversion costs during August			30,096
Work in process, August 31, 800 pounds, 30% completed			?
Goods finished during August, 15,700 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 two decimal places.

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 3aed2bf91067fa8_1
Received from materials storeroom	fill in the blank 3aed2bf91067fa8_2
Total units accounted for by the Roasting Department	fill in the blank 3aed2bf91067fa8_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials (1)	Conversion (1)
Inventory in process, August 1	fill in the blank 3aed2bf91067fa8_4	fill in the blank 3aed2bf91067fa8_5	fill in the blank 3aed2bf91067fa8_6
Started and completed in August	fill in the blank 3aed2bf91067fa8_7	fill in the blank 3aed2bf91067fa8_8	fill in the blank 3aed2bf91067fa8_9
Transferred to finished goods in August	fill in the blank 3aed2bf91067fa8_10	fill in the blank 3aed2bf91067fa8_11	fill in the blank 3aed2bf91067fa8_12
Inventory in process, August 31	fill in the blank 3aed2bf91067fa8_13	fill in the blank 3aed2bf91067fa8_14	fill in the blank 3aed2bf91067fa8_15
Total units to be assigned costs	fill in the blank 3aed2bf91067fa8_16	fill in the blank 3aed2bf91067fa8_17	fill in the blank 3aed2bf91067fa8_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for August in Roasting Department	$fill in the blank 3aed2bf91067fa8_19	$fill in the blank 3aed2bf91067fa8_20
Total equivalent units	fill in the blank 3aed2bf91067fa8_21	fill in the blank 3aed2bf91067fa8_22
Cost per equivalent unit (2)	$fill in the blank 3aed2bf91067fa8_23	$fill in the blank 3aed2bf91067fa8_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, August 1			$fill in the blank 3aed2bf91067fa8_25
Costs incurred in August			fill in the blank 3aed2bf91067fa8_26
Total costs accounted for by the Roasting Department			$fill in the blank 3aed2bf91067fa8_27
Costs allocated to completed and partially completed units:
Inventory in process, August 1 balance			$fill in the blank 3aed2bf91067fa8_28
To complete inventory in process, August 1	$fill in the blank 3aed2bf91067fa8_29	$fill in the blank 3aed2bf91067fa8_30	fill in the blank 3aed2bf91067fa8_31
Cost of completed August 1 work in process			$fill in the blank 3aed2bf91067fa8_32
Started and completed in August	fill in the blank 3aed2bf91067fa8_33	fill in the blank 3aed2bf91067fa8_34	fill in the blank 3aed2bf91067fa8_35
Transferred to finished goods in August (3)			$fill in the blank 3aed2bf91067fa8_36
Inventory in process, August 31 (4)	fill in the blank 3aed2bf91067fa8_37	fill in the blank 3aed2bf91067fa8_38	fill in the blank 3aed2bf91067fa8_39
Total costs assigned by the Roasting Department			$fill in the blank 3aed2bf91067fa8_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 the nearest cent.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit		$fill in the blank db5aef083025055_2
Change in conversion cost per equivalent unit		$fill in the blank db5aef083025055_4

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