50.1K

Verified Solution

Link Copied!

please show all steps

Cost of Production Report: Weighted average method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31: ACCOUNT Work in Process Roasting Department ACCOUNT NO Balance Date Item Debit Credit Debit Credit Dec 1 Bal., 15,800 units, 60completed 72.522 31 Direct materials, 273,300 units 710,580 783.102 31 Direct labor 386,579 1.169,672 31 Factory overhead 556,284 1.725,95 31 Good transferred, 275,700 units 2 2 31 Bal units, 20% completed Required: Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process Roasting Department. Assume that direct materials are placed in process during production. If required, round your cooper equivalent answer to two decimal places Sunrise Coffee Company Cost of Production Report Roasting Department For the Month Ended December 31 Units changed to production Inventory in process, December Received from a storeroom Totalnit counted for by the Roasting Det Total units accounted for by the Roasting Department Units to be assigned costs: Whole Equivalent Units Units of Production Transferred to Packing Department in December Inventory in process, December 31 Total units to be assigned costs Cost Information Cost per equivalent unit: Costs > Total costs for December in Roasting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, December 1 Costs incurred in December od do Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units Transferred to Packing Department in December Inventory in process, December 31 Total costs assigned by the Roasting Department

Answer & Explanation Solved by verified expert

See Answer