Arabica Highland 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 July 31: ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit July 1 Bal., 4,900 units, 2/5 completed 16,464 31 Direct materials, 196,000 units 607,600 624,064 31 Direct labor 126,800 750,864 31 Factory overhead 31,728 782,592 31 Goods transferred, 197,000 units 31 Bal., ? units, 4/5 completed zequired: -. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent nits, round to two decimal places.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question
100%
Drive - Google Drive
X 4 My Drive - Google Drive
Front Desk Operations 2020 - Go X
takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3false
flix
o TVCC Email
☆ Tp
Ash
P My Math Lab Log In to Canvas
Mathway | Calculus...
N Netflix Cengage Login
* Login
Reading list
Cost of Production Report
Arabica Highland 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 July 31:
ACCOUNT Work in Process-Roasting Department
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
July
1 Bal., 4,900 units, 2/5 completed
16,464
31 Direct materials, 196,000 units
607,600
624,064
31 Direct labor
126,800
750,864
31 Factory overhead
31,728
782,592
31 Goods transferred, 197,000 units
31 Bal., ? units, 4/5 completed
Required:
1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent
units, round to two decimal places.
Arabica Highland Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Unit Information
Transcribed Image Text:Drive - Google Drive X 4 My Drive - Google Drive Front Desk Operations 2020 - Go X takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3false flix o TVCC Email ☆ Tp Ash P My Math Lab Log In to Canvas Mathway | Calculus... N Netflix Cengage Login * Login Reading list Cost of Production Report Arabica Highland 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 July 31: ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit July 1 Bal., 4,900 units, 2/5 completed 16,464 31 Direct materials, 196,000 units 607,600 624,064 31 Direct labor 126,800 750,864 31 Factory overhead 31,728 782,592 31 Goods transferred, 197,000 units 31 Bal., ? units, 4/5 completed Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to two decimal places. Arabica Highland Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information
- My Drive - Google Drive
4 My Drive - Google Drive
Front Desk Operations 2020 - Go X +
ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3Dfalse
* Tp
Netflix
0z TVCC Email
P My Math Lab
Log In to Canvas
X Mathway |Calculus...
N Netflix . Cengage Login
* Login
国Reading
Direct
Total
Materials Conversion
Inventory in process, July 1
Costs incurred in July
Total costs accounted for by the Roasting Department
Cost allocated to completed and partially completed units:
Inventory in process, July 1 balance
To complete inventory in process, July 1
Cost of completed July 1 work in process
Started and completed in July
$4
Transferred to Packing Department in July
Inventory in process, July 31
$4
Total costs assigned by the Roasting Department
2. Assuming that the July 1 work in process inventory includes $14,700 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and
conversion between June and July. If required, round your answers to the nearest cent.
Amount
Increase or Decrease
Change in direct materials cost per equivalent unit
Change in conversion cost per equivalent unit
t分
%24
%24
%24
%24
%24
Transcribed Image Text:- My Drive - Google Drive 4 My Drive - Google Drive Front Desk Operations 2020 - Go X + ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3Dfalse * Tp Netflix 0z TVCC Email P My Math Lab Log In to Canvas X Mathway |Calculus... N Netflix . Cengage Login * Login 国Reading Direct Total Materials Conversion Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Roasting Department Cost allocated to completed and partially completed units: Inventory in process, July 1 balance To complete inventory in process, July 1 Cost of completed July 1 work in process Started and completed in July $4 Transferred to Packing Department in July Inventory in process, July 31 $4 Total costs assigned by the Roasting Department 2. Assuming that the July 1 work in process inventory includes $14,700 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent. Amount Increase or Decrease Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit t分 %24 %24 %24 %24 %24
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Costing Systems
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education