2.2 Takehome Exercises Process Co! eBook
Cost of Production Report
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 ACCOUNT NO.
Date Item Debit Credit Balance Debit Balance Credit
March 1 Bal., 25,000 units, 10% completed 21,250
31 Direct materials, 600,000 units 450,000 471,250
31 Direct labor 244,600 715,850
31 Factory overhead 415,820 1,131,670
31 Goods transferred, 605,000 units ?
31 Bal., 2 units, 45% completed ?
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
Units Whole Units Equivalent Units Equivalent Units
Direct Materials Conversion
Units charged to production:
Inventory in process, March 1 25,000
Received from materials storeroom 600,000
Total units accounted for by the Roasting 625,000
Department
Units to be assigned costs:
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Assignment Score: 50%
