FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial
work in process account of the Roasting Department at December 31:
ACCOUNT Work in Process-Roasting Department
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Dec.
1 Bal., 12,700 units, 75% completed
35,687
31 Direct materials, 219,700 units
351,520
387,207
31 Direct labor
190,705
577,912
31 Factory overhead
274,428
852,340
31 Goods transferred, 221,600 units
?
?
31 Bal., ? units, 25% completed
?
Required:
Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process-Roasting Department. If required, round your cost per equivalent unit answer to two decimal places.
Sunrise Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended December 31
Unit Information
Units charged to production:
Inventory in process, December 1
Received from materials storeroom
Total units accounted for by the Roasting Department
Units to be assigned costs:
Whole
Equivalent
Units
Units of
Production
Transferred to Packing Department in December
Inventory in process, December 31
Total units to be assigned costs
Transcribed Image Text:Cost Information
Cost per equivalent unit:
Costs
Total costs for December in Roasting Department
Total equivalent units
Cost per equivalent unit
Costs assigned to production:
Inventory in process, December 1
Costs incurred in December
Total costs accounted for by the Roasting Department
Costs allocated to completed and partially completed units:
Transferred to Packing Department in December
Inventory in process, December 31
Total costs assigned by the Roasting Department
%24
%24
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