Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost of Production Reports Average Cost Method Blue Ribbon Hour Company manufactures flour by a series of three processes, beginning in the Milling Department. From

image text in transcribed
image text in transcribed
Cost of Production Reports Average Cost Method Blue Ribbon Hour Company manufactures flour by a series of three processes, beginning in the Milling Department. From the Miling Department, the materials pass through the Sitting and Padaging 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-Sting Department during May Direct materials transferred from Milling Departments 18,300 units $32,600 Direct labor Factory overhead 7,490 ng Department on May 31 was 1.000 units 75 completed During May 10.000 units of four were completed and transferred to finished goods. Work in Required: Prepare a cost of production report for the Sitting Department for May, using the average cost Bee Ribbons Four Company Cost of Production Report-Sting Dep For the Mo de Units charged to production Inventory pre May 1 Total scored for by the Units to be grados Cost Information Cost per equivalent unit: Costs Total costs for May in Sifting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, May 1 Costs incurred in May Total costs accounted for by the Sifting Department 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Biological Assets

Authors: Rute Goncalves, Patricia Teixeira Lopes

1st Edition

1032096225, 9781032096223

More Books

Students also viewed these Accounting questions