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