The debits to Work in Process-Roasting Department for Morning Brew Coffee Compan

Question

The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follow Work in process, August 1, 1,000 pounds, 5090 completed $4,100* $3,400 $700 $4,100 Direct materials (1,000 X $3.4) Conversion (1,000 X 50% X $1.4) Coffee beans added during August, 31,000 pounds Conversion costs during August Work in process, August 31, 1,600 pounds, 50% completed Goods finished during August, 30,400 pounds All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: 103,850 46,050 1. Direct materials and conversion equivalent units of production for August. 2. Direct materials and conversion costs per equivalent unit for August. 3. Cost of goods finished during August. 4. Cost of work in process at August 31 If an amount is zero, enter in "O". For the cost per equivalent unit, round your answer to two decimal places.

Explanation / Answer

Direct material Conversion Total Inventory in process , August 1                        4,100 Cost incurred in August                    149,900 Total cost accounted for by the roasting department                    154,000 Costs allocated to completed and partially completed units; Inventory in process, August 1 balance                        4,100 To complete inventory in process, August 1                       -                      750                           750 Cost of completed August 1 work in process                        4,850 Started and completed in August               98,490               44,100                    142,590 Transferred to finished goods in August                    147,440 Inventory in process, August 31                 5,360                 1,200                        6,560 Total cost assigned by the roasting department                    154,000 Material conversion Pounds % of completion Equivalent units % of completion Equivalent units Units started and completed ( 30,400 - 1,000 )               29,400 100%                      29,400 100%                                           29,400 Ending work in process                 1,600 100%                        1,600 50%                                                 800 Beginning work in process                 1,000 0%                               -   50%                                                 500 Total equivalent units                      31,000                                           30,700 Cost per equivalent units ( $ ) 3.35 1.5

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