Cost of Production Report Hana 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 July 31:
ACCOUNT Work in Process—Roasting Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
July 1 Bal., 30,000 units, 10% completed 121,800
31 Direct materials, 155,000 units 620,000 741,800
31 Direct labor 90,000 831,800
31 Factory overhead 33,272 865,072
31 Goods transferred, 149,000 units ?
31 Bal., ? 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.
Hana Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended July 31
Unit Information
Units charged to production:
Inventory in process, July 1
Received from materials storeroom
Total units accounted for by the Roasting Department
Units to be assigned costs:
Equivalent Units
Whole Units Direct Materials Conversion
Inventory in process, July 1
Started and completed in July
Transferred to Packing Department in July
Inventory in process, July 31
Total units to be assigned costs
Cost Information
Costs per equivalent unit:
Direct Materials Conversion
Total costs for July in Roasting Department $ $
Total equivalent units
Cost per equivalent unit $ $
Costs charged to production:
Direct Materials Conversion Total
Inventory in process, July 1 $
Costs incurred in July
Total costs accounted for by the Roasting Department $
Cost allocated to completed and partially completed units:
Inventory in process, July 1 balance $
To complete inventory in process, July 1 $ $
Cost of completed July 1 work in process $
Started and completed in July
Transferred to Packing Department in July $
Inventory in process, July 31
Total costs assigned by the Roasting Department $
2. Assuming that the July 1 work in process inventory includes $119,400 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to two decimal places.
Increase or Decrease Amount
Change in direct materials cost per equivalent unit $
Change in conversion cost per equivalent unit $

Hana Coffee Company

Cost of Production Report-Roasting Department

For the Month Ended July 31

Unit Information

Units charged to production:

Inventory in process, July 1

Received from materials storeroom

Total units accounted for by the Roasting Department 185,000

Units to be assigned costs:

Equivalent Units    = 165,200

                                                   Whole Units   Direct Materials   Conversion

Inventory in process, July 1              30,000          30,000                3,000

Started and completed in July       149,000         149,000            149,000

Transferred to Packing in July       155,000         155,000            155,000

Inventory in process, July 31           36,000           36,000              16,200

Total units to be assigned costs   165,200          165,200            165,200

Cost Information

Costs per equivalent unit:

                                                                           Direct Materials  Conversion

Total costs for July in Roasting Dept   865,072  $740,000        $125,072

Total equivalent units                           185,000     165,200           165,200

Cost per equivalent unit                                            $4.48               $0.76

Costs charged to production:

                                                            Direct Materials Conversion    Total

Inventory in process, July 1 $                 $120,000         $1,800      $121,800

Costs incurred in July                              620,000       123,272       743,272

Total costs accounted for

by the Roasting Department               $740,000      $125,072    $865,072

Cost allocated to completed and partially completed units:

Inventory in process, July 1 balance            $121,800

To complete inventory in process, July 1    $743,272

Cost of completed July 1 work in process $865,072

Started and completed in July

Transferred to Packing Department in July $780,760

Inventory in process, July 31                              84,312

Total costs assigned by the Roasting Department $865,072

2. Assuming that the July 1 work in process inventory includes $119,400 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to two decimal places.

Increase or Decrease Amount

Change in direct materials cost per equivalent unit = $0 ($4 - $4)

Change in conversion cost per equivalent unit  = $0 ($0.76 - $0.76)

Explanation:

a) Data and Calculations:

Work in Process—Roasting Department ACCOUNT NO.

Date     Item                        Debit              Credit         Balance  

July 1   Bal., 30,000 units,

 10% completed              $121,800

31 Direct materials,

  155,000 units               620,000                             741,800

31 Direct labor                   90,000                             831,800

31 Factory overhead         33,272                            865,072

31 Goods transferred, 149,000 units,       780,760

31 Bal., 36,000 units, 45% completed                       84,312

Total units under production:

Beginning balance        30,000

Added units                 155,000

Total units                   185,000

Units transferred out 149,000

Ending units                 36,000

Equivalent unit of production:

Units transferred out 149,000 (100%)

Ending units                 16,200 (45%)

Total equivalent unit = 165,200

                                                            Direct Materials Conversion  

Total cost of units under production = $740,000      $125,072

Total equivalent units  =                        165,200           165,200

Cost per equivalent unit =                        $4.48            $0.76

If Direct materials cost = $119,400

Conversion cost will be       2,400 ($121,800 - 119,400)

                                                            Direct Materials Conversion    Total

Inventory in process, July 1 $                  $119,800         $2,400      $121,800

Costs incurred in July                              620,000        123,272        

Total costs accounted for

by the Roasting Department                $739,800      $125,672    $865,072

Equivalent units                                        165,200        165,200

Cost per equivalent unit                           $4.48              $0.76

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