Sunrise Coffee Company roasts and packs coffee beans. The process begins in the

Question

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 Ba, 13,900 units, 40% co 31 Direct materials, 240,500 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 242,500 units 31 Bal., ? units, 90 completed pleted 615,690 355,172 $11,101 62,589 678,369 1,033,541 1,544,642 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 equlvalent unlt answer to two declmal places Sunrise Coffee Company Cost of Production Report-Roasting Department For the Month Ended December 31 Unlits to account for during 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

Explanation / Answer

UNIT INFORMATION: Units to account for: Inventory in process beginning 13900 Recived from material 240500 Total units tot accounted for 254400 Units to be assigned cost: Whole Equivalent Transferred to next deptt. 242600 242600 Inventory in process Ending 11800 10620 Total units to be assigned cost 254400 253220 COST INFORMATION: COST Total cost for December 1544642 Total Equivalent units 253220 Cost per equivalent unit 6.1 Cost assigned to Production: Inventory in Process beg. 62689 Cost incurred in December 1481953 Total cost accounted for In Dec 1544642 Cost allocated to completed and ending WIP: Transferred to next deptt 1479860 Inventory in process Ending 64782 Total cost assigned 1544642

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