eBook Question Content Area Cost of Production Report Lui Coffee Company roasts and packs coffee...
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Cost of Production Report
Lui 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 March 31:
Date
Item
Debit
Credit
BalanceDebit
BalanceCredit
March 1
Bal., 5,700 units, 1/5 completed
9,690
31
Direct materials, 256,500 units
436,050
445,740
31
Direct labor
82,900
528,640
31
Factory overhead
20,692
549,332
31
Goods transferred, 257,000 units
?
31
Bal., ? units, 3/5 completed
?
Required:1. Prepare a cost of production report, and identify the missing amounts for Work in ProcessRoasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to the nearest cent.
Units
Whole Units
Equivalent UnitsDirect Materials
Equivalent UnitsConversion
Units charged to production:
Inventory in process, March 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:
Inventory in process, March 1
fill in the blank 4
fill in the blank 5
fill in the blank 6
Started and completed in March
fill in the blank 7
fill in the blank 8
fill in the blank 9
Transferred to Packing Department in March
fill in the blank 10
fill in the blank 11
fill in the blank 12
Inventory in process, March 31
fill in the blank 13
fill in the blank 14
fill in the blank 15
Total units to be assigned costs
fill in the blank 16
fill in the blank 17
fill in the blank 18
Costs
Direct Materials
Conversion
Total
Cost per equivalent unit:
Total costs for March in Roasting Department
$fill in the blank 19
$fill in the blank 20
Total equivalent units
fill in the blank 21
fill in the blank 22
Cost per equivalent unit
$fill in the blank 23
$fill in the blank 24
Costs assigned to production:
Inventory in process, March 1
$fill in the blank 25
Costs incurred in March
fill in the blank 26
Total costs accounted for by the Roasting Department
$fill in the blank 27
Costs allocated to completed and partially completed units:
Inventory in process, March 1 balance
$fill in the blank 28
To complete inventory in process, March 1
$fill in the blank 29
$fill in the blank 30
fill in the blank 31
Cost of completed March 1 work in process
$fill in the blank 32
Started and completed in March
fill in the blank 33
fill in the blank 34
fill in the blank 35
Transferred to finished goods in March
$fill in the blank 36
Inventory in process, March 31
fill in the blank 37
fill in the blank 38
fill in the blank 39
Total costs assigned by the Roasting Department
$fill in the blank 40
2. Assuming that the March 1 work in process inventory includes $9,120 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and March. If required, round your answers to two decimal places.
Line Item Description
Increase or Decrease
Amount
Change in direct materials cost per equivalent unit
DecreaseIncreaseIncrease
$fill in the blank 42
Change in conversion cost per equivalent unit
DecreaseIncreaseDecrease
$fill in the blank 44
Answer & Explanation
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