Can you guys help me complete this please Cost of Production Report Hana Coffee

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Can you guys help me complete this please

Cost of Production Report

Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31:

Required:

1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to two decimal places.

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1. Calculate equivalent units for materials and conversion costs. Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory.

2. Assuming that the July 1 work in process inventory includes $18,600 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and July. If required, round your answers to the nearest cent.

ACCOUNT Work in Process—Roasting Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit July 1 Bal., 6,200 units, 3/5 completed 21,948 31 Direct materials, 279,000 units 864,900 886,848 31 Direct labor 177,000 1,063,848 31 Factory overhead 44,216 1,108,064 31 Goods transferred, 279,000 units ? 31 Bal., ? units, 1/5 completed ?

Explanation / Answer

Hana Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information Units charged to production: Inventory in process, July 1 6200 Received from materials storeroom 279000 Total units accounted for by the Roasting Department 285200 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July 1 6200 0 2480 Started and completed in July 272800 272800 272800 Transferred to Packing Department in July 279000 272800 275280 Inventory in process, July 31 6200 6200 1240 Total units to be assigned costs 285200 279000 276520 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department 864900 221216 Total equivalent units 279000 276520 Cost per equivalent unit 3.1 0.8 Costs charged to production: Direct Materials Conversion Total Inventory in process, July 1 21948 Costs incurred in July 1086116 Total costs accounted for by the Roasting Department 1108064 Cost allocated to completed and partially completed units: Inventory in process, July 1 balance 21948 To complete inventory in process, July 1 0 1984 1984 Cost of completed July 1 work in process 23932 Started and completed in July 845680 218240 1063920 Transferred to Packing Department in July 1087852 Inventory in process, July 31 19220 992 20212 Total costs assigned by the Roasting Department 1108064 2 Increase or Decrease Amount Change in direct materials cost per equivalent unit Increase 0.1 Change in conversion cost per equivalent unit Decrease 0.1

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