Cost of Production Report The debits to Work in ProcessRoasting Department for Morning Brew Coffee...
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Accounting
Cost of Production Report
The debits to Work in ProcessRoasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows:
Work in process, August 1, 500 pounds, 60% completed$3,150**Direct materials (500 X $5.10)$2,550Conversion (500 X 60% X $2.00)600$3,150Coffee beans added during August, 16,000 pounds80,800Conversion costs during August33,180Work in process, August 31, 800 pounds, 50% completed?Goods finished during August, 15,700 pounds?
All direct materials are placed in process at the beginning of production.
a.Prepare cost of production report, presenting the following computations:
- Direct materials and conversionequivalent units of productionfor August
- Direct materials and conversioncosts per equivalent unitfor August
- Cost of goods finished during August
- Cost of work in process at August 31
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