eBook Equivalent units and related costs; cost of production report; entries Instructions Chart of Accounts Cost of Production Report Journal Final Questions Instructions White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Miling Department, the materials pass through the Sitting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Sifting Department was as follows on July 1: Work in Process-Sitting Department (1,000 units, 3/5 completed): Direct materials (1,000 $2.25) $2,250 Conversion (1,000 3/5 x $0.40) 240 $2,490 The following costs were charged to Work in Process-Sitting Department during July Direct materials transfered from Miling Department Previous Equivalent units and related costs; cost of production report; entries Instructions Chart of Accounts Cost of Production Report Journal Instructions The following costs were charged to Work in Process-Sitting Department during July Direct materials transferred from Milling Department Final Questions 15,400 units at $2.35 a unit Direct labor Factory overhead $36,190 4,420 2.546 During July, 14,800 units of four were completed. Work in Process-Sifing epartment on July 31 was 1,600 units, 4/5 completed. Required: 1. Prepare a cost of production report for the Sitting Department for July. If an amount is zero, enter "". Round your cost per unit answers to the nearest cent and final answers to the nearest dollar amount 2. Journalize the entries for costs transferred from Miling to Siting and the costs transfered from Sifting to Packaging, Refer to the Chart of Accounts for correct wording of account titles. Use the date July 31 for all journal entries 3. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversion costs. Round your Check My Work Previous Submit Agyment for Grading ictions Chart of Accounts Cost of Production Report Journal rt of Accounts CHART OF ACCOUNTS White Diamond Flour Company General Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 141 Work in Process-Miling 142 Work in Process-Sitting 143 Work in Process-Packaging 151 Factory Overhead-Milling 152 Factory Overhead-Sifting 153 Factory Overhead-Packaging REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Seling Expenses 532 Insurance Expense 533 Unities Expense 534 Supplies Expense 540 Administrative Expenses My Work All work saved atv ST % 5 ^ 6 & 7 nstructions Chart of Accounts Cost of Production Report Journal F Chart of Accounts 151 Factory Overhead-Miling 152 Factory Overhead-Sifting 153 Factory Overhead-Packaging 161 Finished Goods 171 Supplies 172 Prepaid Insurance 173 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory 533 Utilities Expense 534 Supplies Expense 540 Administrative Expenses 561 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Ulises Payable 231 Notes Payable 236 Interest Payable 251 Woes Pinable... Check My Work 2 6 tv Sex All work saved. alt structions Chart of Accounts Cost of Production Report Ja Chart of Accounts 1ST I QUITY 192 Accumulated Depreciation-Factory LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 251 Wages Payable Check My Work EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary All work saved. eBook mh Google Cost of Production Report 1. Prepare a cost of production report for the Sitting Department for July. If an amount is zero, enter "0". Round your cost per unit answers to the nearest cent and final answers to the nearest dollar amount. UNITS WHITE DIAMOND FLOUR COMPANY Cost of Production Report-Sitting Department For the Month Ended July 31 Units charged to production: Inventory in process, July 1 Received from Milling Department Total units accounted for by the Sinting Department Units to be assigned costs: Inventory in process, July 1 (3/5 completed) Started and completed in v Check My Work Equivalent Units Whole Units Direct Materials Conversion Previous 40 Cost of Production Report Started and completed in July Transferred to Packaging Department in July Inventory in process, July 31 (4/5 completed) Total units to be assigned costs Cost per equivalent unit COSTS Total costs for July in Sifting Department Total equivalent units Cost per equivalent unit- Costs assigned to production Inventory in process, July 1 Check My Work Costs Direct Materials Conversion Total Previous Book Cost of Production Report Cost per equivalent unit Costs assigned to production Inventory in process, July 1 Costs incurred in July Tobal costs accounted for by the Sting Department Costs allocated to completed and partially completed units Inventory in process. July 1-balance To complete inventory in process, July 1 N Cost of completed July 1 work in process Stared and completed in July Transfeered to Packaging Department in July Inventory in process. July 31 Total costs assigned by the Sifting Department Check My Work Previous Grading Journal titles. Use the date July 31 for all journal entries. FACE 10 JOURNAL DATE DESCRIPTION POST DENT CREDIT Final Questions Shaded cells have feedback Shaded cells have feedback 3. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversion costs. Round your answers to the nearest cent Direct materials: s Conversion: Increase Increase and Points 52/4) Transferred Out The report can also be 4. The cost of production report may be used as the basis for allocating product costs between Work in Process used to control costs by holding each department head responsible for the units entering production and the costs incurred in the department. Any differences in unit product costs from one month to another, such as those in part (3), can be studied carefully and any significant differences investigated. Points i 12/2