Question - Cost of production report
The debits to Work in Process-Roasting Department for St. Arbucks Coffee Company for May 2010, together with information concerning production, are as follows:
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Work in process, May 1, 400 pounds, 10% completed
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$1,956
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Coffee beans added during May, 13,000 pounds
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60,450
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Conversion costs during May
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26,300
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Work in process, May 31, 700 pounds, 70% completed
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?
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Goods finished during May, 12,700 pounds
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?
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All direct materials are placed in process at the beginning of production. Prepare a cost of production report, presenting the following computations:
a. Direct materials and conversion equivalent units of production for May.
b. Direct materials and conversion cost per equivalent unit for May.
c. Cost of goods finished during May.
d. Cost of work in process at May 31, 2010.
Enter all amounts as positive numbers.