Cost of Production Report

The debits to Work in ProcessRoasting Department for Morning Brew Coffee Company for August 2016, together with information concerning production, are as follows:

Work in process, August 1, 700 pounds, 20% completed				$ 3,479*
	*Direct materials (700 X $4.70)	$3,290
	Conversion (700 X 20% X $1.35)	189
		$3,479
Coffee beans added during August, 14,300 pounds				65,780
Conversion costs during August				21,942
Work in process, August 31, 400 pounds, 42% completed				?
Goods finished during August, 14,600 pounds				? All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: Direct materials and conversion equivalent units of production for August. Direct materials and conversion costs per equivalent unit for August. Cost of goods finished during August. Cost of work in process at August 31, 2016. If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to the nearest cent. Morning Brew Coffee Company Cost of Production ReportRoasting Department For the Month Ended August 31, 2016 Unit Information Units charged to production: Inventory in process, August 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Equivalent Units Whole Units Direct Materials (1) Conversion (1) Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total units to be assigned costs Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department $ $ Total equivalent units Cost per equivalent unit (2) $ $ Costs assigned to production: Direct Materials Conversion Total Inventory in process, August 1 $ Costs incurred in August Total costs accounted for by the Roasting Department $ Costs allocated to completed and partially completed units: Inventory in process, August 1 balance $ To complete inventory in process, August 1 $ $ Cost of completed August 1 work in process $ Started and completed in August Transferred to finished goods in August (3) $ Inventory in process, August 31 (4) Total costs assigned by the Roasting Department $ b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (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 $