Date July ACCOUNT Work in Process-Roasting Department Item 1 Bal., 5,600 units, 2/5 completed 31 Direct materials, 252,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 252,000 units 31 Bal., 2 units, 3/5 completed Required: Debit 453,600 101,200 25,360 Credit ACCOUNT NO. Balance Debit 10,864 464,464 565,664 591,024 Credit 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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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:

 

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2. Assuming that the July 1 work in process inventory includes $9,520 of direct materials, determine the increase or decrease in the cost per
equivalent unit for direct materials and conversion between February and July. If required, round your answers to the nearest cent.
Increase or Decrease
Amount
Increase
Change in direct materials cost per equivalent unit
Change in conversion cost per equivalent unit
Decrease
0.10
Transcribed Image Text:2. Assuming that the July 1 work in process inventory includes $9,520 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and July. If required, round your answers to the nearest cent. Increase or Decrease Amount Increase Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Decrease 0.10
Date
July
ACCOUNT Work in Process-Roasting Department
Item
1 Bal., 5,600 units, 2/5 completed
31 Direct materials, 252,000 units
31 Direct labor
31 Factory overhead
31 Goods transferred, 252,000 units
31 Bal., 2 units, 3/5 completed
Required:
Debit
453,600
101,200
25,360
Credit
?
ACCOUNT NO.
Balance
Debit
10,864
464,464
565,664
591,024
?
Credit
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.
Transcribed Image Text:Date July ACCOUNT Work in Process-Roasting Department Item 1 Bal., 5,600 units, 2/5 completed 31 Direct materials, 252,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 252,000 units 31 Bal., 2 units, 3/5 completed Required: Debit 453,600 101,200 25,360 Credit ? ACCOUNT NO. Balance Debit 10,864 464,464 565,664 591,024 ? Credit 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.
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