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wiCoffee 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 March ACCOUNT Work in Process-Roasting Department Date Item March 1 Bal., 5,800 units, 3/5 completed 31 Direct materials, 261.000 units 31 Direct labor 31 Factory overhead 31 Goods transferred. 261.000 units 31 Bal., 2 units, 1/5 completed Units Debit Credit Credit Started and completed in March Transferred to Packing Department in March Inventory in process, March 31 Total units to be assigned costs 522.000 103,500 25,840 Units charged to production: Inventory in process, March 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, March 1 Costs Cost per equivalent unit: Total costs for March in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, March 1 ? 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 the nearest cent. ACCOUNT NO. Balance Balance Debit Credit 13.108 535.108 638.608 664,448 Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 ? Whole Units 5,800 261,000 266,800 5,800 255,200 261,000 5,800 266,800 Costs Direct Materials 522,000 261,000 Equivalent Units Direct Materials 2.00 0 255,200 255,200 5,800 261,000 Equivalent Units Conversion Conversion 2,320 255,200 257,520 Total 13,108

wiCoffee 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 March ACCOUNT Work in Process-Roasting Department Date Item March 1 Bal., 5,800 units, 3/5 completed 31 Direct materials, 261.000 units 31 Direct labor 31 Factory overhead 31 Goods transferred. 261.000 units 31 Bal., 2 units, 1/5 completed Units Debit Credit Credit Started and completed in March Transferred to Packing Department in March Inventory in process, March 31 Total units to be assigned costs 522.000 103,500 25,840 Units charged to production: Inventory in process, March 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, March 1 Costs Cost per equivalent unit: Total costs for March in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, March 1 ? 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 the nearest cent. ACCOUNT NO. Balance Balance Debit Credit 13.108 535.108 638.608 664,448 Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 ? Whole Units 5,800 261,000 266,800 5,800 255,200 261,000 5,800 266,800 Costs Direct Materials 522,000 261,000 Equivalent Units Direct Materials 2.00 0 255,200 255,200 5,800 261,000 Equivalent Units Conversion Conversion 2,320 255,200 257,520 Total 13,108

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 2PA: Cost of production report Hana Coffee Company roasts and packs coffee beans. The process begins by...
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Lui 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 March 31: ACCOUNT Work in Process-Roasting Department Date Item March 1 Bal., 5,800 units, 3/5 completed 31 Direct materials, 261,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 261,000 units 31 Bal., 2 units, 1/5 completed Units Units charged to production: Inventory in process, March 1 Received from materials storeroom Debit Credit 522,000 103,500 25,840 Costs Cost per equivalent unit: Total costs for March in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, March 1 Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, March 1 Started and completed in March Transferred to Packing Department in March Inventory in process, March 31 Total units to be assigned costs 7 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 the nearest cent. Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 ACCOUNT NO. Balance Balance Debit Credit 13,108 535,108 638,608 664,448 $ Whole Units ? 5,800 261,000 266,800 5,800 255,200 261,000 5,800 266,800 Costs Direct Materials 522,000 Equivalent Units Direct Materials 261,000 2.00 0 255,200 255,200 5,800 261,000 Equivalent Units Conversion Conversion 2,320 255,200 257,520 Total 13,108
Transcribed Image Text:Lui 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 March 31: ACCOUNT Work in Process-Roasting Department Date Item March 1 Bal., 5,800 units, 3/5 completed 31 Direct materials, 261,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 261,000 units 31 Bal., 2 units, 1/5 completed Units Units charged to production: Inventory in process, March 1 Received from materials storeroom Debit Credit 522,000 103,500 25,840 Costs Cost per equivalent unit: Total costs for March in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, March 1 Total units accounted for by the Roasting Department Units to be assigned costs: Inventory in process, March 1 Started and completed in March Transferred to Packing Department in March Inventory in process, March 31 Total units to be assigned costs 7 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 the nearest cent. Lui Coffee Company Cost of Production Report-Roasting Department For the Month Ended March 31 ACCOUNT NO. Balance Balance Debit Credit 13,108 535,108 638,608 664,448 $ Whole Units ? 5,800 261,000 266,800 5,800 255,200 261,000 5,800 266,800 Costs Direct Materials 522,000 Equivalent Units Direct Materials 261,000 2.00 0 255,200 255,200 5,800 261,000 Equivalent Units Conversion Conversion 2,320 255,200 257,520 Total 13,108
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