Equivalent units and related costscost of production report: entries Instructions Chart of Accounts Cost of Production Report Journal Final Question Final Question Instructions White Diamond Four Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass through the Sitting and Packaging departments, emerging as packaged refined flour The balance in the account Work in Process-Sitting Department was as follows on July 1: Work in Process-Sifting Department (750 units, 3/5 completed): Direct materials (750 $2.25) $1,688 Conversion (750 35$0.40) 180 $1,868 The following costs were charged to Work in Process-Sitting Department during July Direct materials transferred from Milling Department: 16,400 units at $2.35 a unit $38.540 Direct labor 4,480 Factory overhead 2.936 During July 16,050 units of four were completed. Work in Process-Sifting Department on July 31 was 1,100 units, completed Check My Work Previous The following costs were charged to Work in Process-Sitting Department during July Direct materials transferred from Milling Department: 16,400 units at $2.35 a unit $38,540 Direct labor 4,480 Factory overhead 2.936 During July, 16,050 units of flour were completed. Work in Process-Sifting Department on July 31 was 1,100 units, completed Required: 1. Prepare a cost of production report for the Sitting Department for July. If required, round your cost per equivalent unit answers to two decimal places. If an amount is zero, enter zero "O" 2. Journalize the entries for costs transferred from Miling to Sifting and the costs transferred from Sifting to Packaging. Refer to the Chart of Accounts for correct wording of account titles 3. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversion costs. If required, round your answers to two decimal places. 4. Discuss the uses of the cost of production report and the results of part (3)