1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dangina [55]
3 years ago
7

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:
ACCOUNT Work in Process—Roasting Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
July 1 Bal., 30,000 units, 10% completed 121,800
31 Direct materials, 155,000 units 620,000 741,800
31 Direct labor 90,000 831,800
31 Factory overhead 33,272 865,072
31 Goods transferred, 149,000 units ?
31 Bal., ? units, 45% completed ?
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 the nearest cen
Business
1 answer:
nydimaria [60]3 years ago
4 0

Answer:

Unit Information

Units charged to production:

Inventory in process, July 1                  30000

Received from materials storeroom <u>155000  </u>

Total units accounted for                       185000

<em><u>Units to be assigned costs: </u></em> Equivalent Units

           Whole Units         DM     Conversion

Beginning          30,000    0          27,000

Std and comp  119,000 119,000  119,000

Transferred to  149,000 119,000 146,000

Ending                    36,000  36,000   16,200

Total units         185,000 155,000 162,200

                           Materials Conversion (labor + overhead)

Total costs for the month  620,000 123,272

Total equivalent units      155,000 162,200

Cost per equivalent unit  $4.00       $0.76

                 DM            Conversion           Total

Beginning                                           $121,800.00

Incurred      $620,000.00   $123,272.00  <u> $743,272.00 </u>

Total costs accounted for                             $865,072.00

Beginning             $121,800.00

To complete            <u>   $20,520.00 </u>

Total beginning    $142,320.00

Std and comp        <u>  $566,440.00 </u>

Trasnferred             $708,760.00

Ending                           <u>    $156,312.00 </u>

Total costs assigned       $865,072.00

Explanation:

First we calcualte the physical units.

then the equivalent units.

we solve for equialent cost per unit by dividing the cost of the period by the equivalent unit

then, we make the cost reconciliation

notice how the cost accounted (beginning + incurred during the period)

matches the cost assigned (trasnferred + ending WIP inventory)

You might be interested in
When it comes to saving money, what is a good rule of thumb?
mash [69]
Think this is a keep most of your saving in your checking account
3 0
3 years ago
Which term describes the cost to replace property minus the deduction for depreciation?
Natasha_Volkova [10]

Answer:

The correct answer is b) Actual cash value.

Explanation:

Insurance industry’s ACV is define as "the cost to replace with new property of like kind and quality, less depreciation. Courts have varied in their rulings as to whether or not depreciation includes obsolescence (loss of usefulness as a result of outmoded design, construction, etc.)."

5 0
3 years ago
Why is it very important to properly present the results of your analysis in a report
jek_recluse [69]

Answer:

To get a good grade.

4 0
2 years ago
The six sigma approach to quality control: Multiple Choice detects potential problems early to prevent their occurrence. views q
NARA [144]

Answer:

detects potential problems early to prevent their occurrence.

Explanation:

Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.

This ultimately implies that, the six sigma approach to quality control detects potential problems early to prevent their occurrence.

Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services. It allows only 3.4 defective features for every million opportunities and as such expects processes to be defect free 99.99966 percent of the time.

<em>Generally, there are two (2) main methods of achieving the six sigma approach;</em>

<em>1. DMAIC: define, measure, analyze, improve and control.</em>

<em>2. DMADV: define, measure, analyze, design and verify. </em>

8 0
3 years ago
Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and cost information relating to
slega [8]

Answer:

Contribution is sales revenue less variable cost. In multiple products environment, it is important that the producer have information about the performance of each product. This is useful for decision making purpose. See income statement below

Explanation:

An income statement showing contribution would suffice:

       Royal Lawrence Company

                                                                  Income statement

                                                      Weedban Greengrow Total

                                                                    $                   $                   $

Sales (sp/unit × unit)                            315,000   900,000         1,215,000

Variable cost (Vc/unit × units)              (<u>98,000)</u>      (<u>325,000)</u>  (<u>423,000)</u>

Contribution                                           217,000      575,000   792,000

Specific fixed cost                              <u>  (132,000)</u>   <u> (37,000) </u> <u>(169,000)</u>

Product profit                                   85,000     538,000   623,000

Common Fixed cost                                                     <u>(100,000)</u>

Total profit                                                                     <u>523,000 </u>

4 0
3 years ago
Read 2 more answers
Other questions:
  • The system requirement where all transactions must have audit trails would fall under which system requirement category? input p
    10·1 answer
  • Michael dell warned companies to be careful about the way they interpret data from the​ ________. the sales numbers might reflec
    14·1 answer
  • During Year 1, its first year of operations, Galileo Company purchased two available-for-sale investments as follows: Security S
    12·1 answer
  • The operations, management, and regulation of a financial conglomerate are the same irrespective of the types of services offere
    10·1 answer
  • The specific identification method of costing inventories is used when the
    5·2 answers
  • What are four importance of a business plan
    14·1 answer
  • Your friend remarks that longer movies are a better deal than shorter movies because the ticket price is the same in both cases.
    11·1 answer
  • Wildhorse Co. Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $20 per year. During
    9·1 answer
  • Oliver Is a small manufacturing business owner. He has a limited number of employees working under him. He usually helps his emp
    9·1 answer
  • The type of appeal used to imply either directly or subtly that the product is more fun or exciting than competitors' offerings
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!