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I need help with these please. White Diamond Flour Company manutactures flour by a series of three processes, beginning with wheat grain being introduced in
I need help with these please.
White Diamond Flour Company manutactures flour by a series of three processes, beginning with wheat grain being introduced in the Miling Department. From the Milling Department, the materials pass through the Satting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Siting Department was as foliows on July 1: The following costs were charged to Work in Process-Sitting Department during July: During July, 14,400 units of tlour were completed. Work in Process-Sitting Department on July 31 was 1,600 units, 34 completed. The following costs were charged to Work in Process-Sitting Department during July: During July, 14,400 units of flour were completed. Work in Process-Sitting Department on July 31 was 1,600 units, 34 completed. Required: 1. Prepare a cost of production report for the sitting Department for July. If an amount is zero, enter " "O". Round your Cost per equivalent unit answers to two decimal places. 2. Journalize the entries for costs transferred from M Miling to Sitting and the costs transferred from Sirting to Packaging. Refer to the chart of accounts for the exact wording of the account tites. CNOW joumals do not use lines for joumal explanations. Every line on a joumal page is used for debit or credil entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 3. Determine the increase or decrease in the ! from June to July for direct materials and conversion costs. Enter all amounts as positive numbers. Round your answers to two decimal places. 4. Discuss the uses of the cost of production report and the results of part (3). Instructichs Instructions \begin{tabular}{l|l|l|l} Chart of Accounts & Cost of Production Report Journal Final Questions \end{tabular} Cost of Production Report 1. Prepare a cost of prodiction report for the Siting Department for duyy. If an amount is zoro, enter "o:. Round your Cost per equivalent unit answers to two decimal places. WHITE DIAMOND FLOUR COMPANY CostofProductionReport-sittingDepUNITrs Units charged to production: Inventory in process, July 1 Recoived from Milling Department Ended July 31 Total units accounted for by the siting Department Units to be assigned costs: Inventory in process, July 1 (3/5 completed) Started and completed in July Transferred to Packaging Department in July Instructions Instructions \begin{tabular}{l} Instructions \\ Cost of Production Report \\ Units to be assigned costs: \\ Inventory in process, July 1 (3/5 completed) \\ Started and completed in July \\ Transferred to Packaging Department in July \\ Inventory in process, July 31 (4/15 completed) \\ Totalits to be assigned costs \\ Feedback \\ \hline . Check My Work \end{tabular} 1. Calculate equivalent units for direct materials and corversion costs: Cost per equivalent unit: \begin{tabular}{|l|l|l|l|l|} \hline Instructions & Chart of Accounts Cost of Production Report & Journal Final Questions \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Instructions & Chart of Accounts \\ \hline \end{tabular} Poirts: 0/22 Feedback Chack Mu Wark: 2. Joumaize the entries for costs transferred from M. Wing to Sitting and the costs transferred from Sitting to Packaging. Aeter to the chart of accounts for the exact wording of the account nites. CNOW joumals do not use lines for journal explanations. Every line on a journal page is used for debil or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. Question not attempted. 3. Determine the increase or decrease in the cost per equivalent unit trom June to July for direct materials and conversion costs. Enter all amounts as positive numbers. Round your answers to two decimal places. 4. The cost of production report may be used as the basis for allocating product costs between The report can also be used to control costs by holding each department head responsible for the units entering produc: 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 itferences investigated. Foobbock Check My Work 1. Calculate the cost per equivalent unit for direct materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory Step by Step Solution
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