Cost of Production Report: Weighted average method Blue Ribbon Four Company manufactures flour by a series of three processes, beginning in the Milling Department. From the Miling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour The balance in the account Work in Process-Sifting Department was as follows on May 1: Work in Process-Sifting Department (1,500 units, 75% completed) $3,400 The following costs were charged to Work in Process-Sifting Department during May Direct materials transferred from Milling Department: 18,300 units $32,600 Direct labor 14,560 Factory overhead 7,490 During May, 18,000 units of flour were completed and transferred to finished goods. Work in Process-Sifting Department on May 31 was 1,800 units, 75% completed Required: Prepare a cost of production report for the Sifting Department for May, using the weighted average method. Assume that direct materials are placed in process during production. Blue Ribbon Flour Company Cost of Production Report-Sifting Department For the Month Ended May 31 Previous epare a cost of production report for the Sifting Department for May, usi ring production. Blue Ribbon Hlour Company Cost of Production Report-Sifting Department For the Month Ended May 31 Unit Information Units charged to production: Inventory in process, May 1 3,400 Received from Milling Department Total units accounted for by the Sifting Department Units to be assigned costs: Whole Units Equivalent Units of Production Transferred to Packaging Department in May Inventory.in process, May 31 G ibt Cost Information Cost per equivalent unit: Costs Total costs for May in Sifting Department $ 58,050 Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, May 1 Costs incurred in May 54,650 Total costs accounted for by the Sifting Department $ 58050 Costs allocated to completed and partially completed units: Transferred to Packaging Department in May Inventory in process, May 31 Total costs assigned by the Sifting Department