Cost of Production Report Hana 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. Date Item Debit Credit Balance Debit Credit July 1 Bal., 4,100 units, 3/5 completed     6,314       31 Direct materials, 184,500 units 258,300     264,614       31 Direct labor 44,200     308,814       31 Factory overhead 10,994     319,808       31 Goods transferred, 185,000 units   ?         31 Bal., ? units, 2/5 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.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Cost of Production Report

Hana 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.
Date Item Debit Credit Balance
Debit Credit
July 1 Bal., 4,100 units, 3/5 completed     6,314    
  31 Direct materials, 184,500 units 258,300     264,614    
  31 Direct labor 44,200     308,814    
  31 Factory overhead 10,994     319,808    
  31 Goods transferred, 185,000 units   ?      
  31 Bal., ? units, 2/5 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.

Hana Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Unit Information
Units charged to production:
Inventory in process, July 1 fill in the blank 4ab6e6fe3fafff5_1
Received from materials storeroom fill in the blank 4ab6e6fe3fafff5_2
Total units accounted for by the Roasting Department fill in the blank 4ab6e6fe3fafff5_3
Units to be assigned costs:
    Equivalent Units
  Whole Units Direct Materials Conversion
Inventory in process, July 1 fill in the blank 4ab6e6fe3fafff5_4 fill in the blank 4ab6e6fe3fafff5_5 fill in the blank 4ab6e6fe3fafff5_6
Started and completed in July fill in the blank 4ab6e6fe3fafff5_7 fill in the blank 4ab6e6fe3fafff5_8 fill in the blank 4ab6e6fe3fafff5_9
Transferred to Packing Department in July fill in the blank 4ab6e6fe3fafff5_10 fill in the blank 4ab6e6fe3fafff5_11 fill in the blank 4ab6e6fe3fafff5_12
Inventory in process, July 31 fill in the blank 4ab6e6fe3fafff5_13 fill in the blank 4ab6e6fe3fafff5_14 fill in the blank 4ab6e6fe3fafff5_15
Total units to be assigned costs fill in the blank 4ab6e6fe3fafff5_16 fill in the blank 4ab6e6fe3fafff5_17 fill in the blank 4ab6e6fe3fafff5_18
Cost Information
Cost per equivalent unit:
  Direct Materials Conversion
Total costs for July in Roasting Department $fill in the blank 4ab6e6fe3fafff5_19 $fill in the blank 4ab6e6fe3fafff5_20
Total equivalent units fill in the blank 4ab6e6fe3fafff5_21 fill in the blank 4ab6e6fe3fafff5_22
Cost per equivalent unit $fill in the blank 4ab6e6fe3fafff5_23 $fill in the blank 4ab6e6fe3fafff5_24
Costs assigned to production:
  Direct Materials Conversion Total
Inventory in process, July 1     $fill in the blank 4ab6e6fe3fafff5_25
Costs incurred in July     fill in the blank 4ab6e6fe3fafff5_26
Total costs accounted for by the Roasting Department     $fill in the blank 4ab6e6fe3fafff5_27
Costs allocated to completed and partially completed units:      
Inventory in process, July 1 balance     $fill in the blank 4ab6e6fe3fafff5_28
To complete inventory in process, July 1 $fill in the blank 4ab6e6fe3fafff5_29 $fill in the blank 4ab6e6fe3fafff5_30 fill in the blank 4ab6e6fe3fafff5_31
Cost of completed July 1 work in process     $fill in the blank 4ab6e6fe3fafff5_32
Started and completed in July fill in the blank 4ab6e6fe3fafff5_33 fill in the blank 4ab6e6fe3fafff5_34 fill in the blank 4ab6e6fe3fafff5_35
Transferred to Molding Department in July     $fill in the blank 4ab6e6fe3fafff5_36
Inventory in process, July 31 fill in the blank 4ab6e6fe3fafff5_37 fill in the blank 4ab6e6fe3fafff5_38 fill in the blank 4ab6e6fe3fafff5_39
Total costs assigned by the Roasting Department     $fill in the blank 4ab6e6fe3fafff5_40

2.  Assuming that the July 1 work in process inventory includes $5,330 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.

  Increase or Decrease Amount
Change in direct materials cost per equivalent unit   $fill in the blank fb259a02a06302d_2
Change in conversion cost per equivalent unit   $fill in the blank fb259a02a06302d_4
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