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I NEED COST OF PRODUCTION REPORT , JOURNAL AND THE FINAL QUESTIONS ARE IN THE LAST PICTURE !!! materials pass through the Sifting and Packaging
I NEED COST OF PRODUCTION REPORT , JOURNAL AND THE FINAL QUESTIONS ARE IN THE LAST PICTURE !!!
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 July 1 : The following costs were charged to Work in Process-Sifting Department during July: The following costs were charged to Work in Process-Sifting Department during July: During July, 16,600 units of flour were completed. Work in Process-Sifting Department on July 31 was 1,100 units, 4/5 completed. Required: 1. Prepare a cost of production report for the Sifting 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. 2. Journalize the entries for costs transferred from Milling to Sifting and the costs transferred from Sifting to Packaging. Refer to the chart of accounts for the exact wording of the 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 answers to the nearest cent. 4. Discuss the uses of the cost of production report and the results of part (3). Cost of Production Report Cost of Production Report \begin{tabular}{l} Cost of Production Report \\ \hline Costs assigned to production: \\ \hline Inventory in process, July 1 \\ \hline Costs incurred in July \\ \hline Total costs accounted for by the Sifting Department \\ \hline Costs allocated to completed and partially completed units: \\ \hline Inventory in process, July 1-balance \\ \hline To complete inventory in process, July 1 \\ \hline Cost of completed July 1 work in process \\ \hline Started and completed in July \\ \hline Transferred to Packaging Department in July \\ \hline Inventory in process, July 31 \\ \hline Total costs assigned by the Sifting Department \\ \hline \end{tabular} for all journal entries. 4. Discuss the uses of the cost of production report and the results of part (3). The cost of production report may be used as the basis for allocating product costs between and The report can also be used to control costs by holding each department head responsible for theStep by Step Solution
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