Reference no: EM133335573
Cost of production report
Question: The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, 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:
1. Direct materials and conversion equivalent units of production for August
2. Direct materials and conversion costs per equivalent unit for August
3. Cost of goods finished during August