Instructions Chart of Accounts Cost of Production Report Journal Final Questions Instructions White Diamond Flour Company manufactures four by a sees of three processes, beginning with wheat gran being introduced in the Ming Department From the Ming Department the materals pass through the Sitting and Packaging departments emerging as pacid refined for The tance in the account Work in ProcessSting Department was as follows on July 1 Work in Process Sitting Department (700 units 35 completed Direct maten (700 $2.35) 51.645 Convention (700x35x50 30) 126 $1.771 The following costs were charged to Work in Process Sitting Department during July Direct materials transferred trom Ming Department 15,700 units at $2.45 a un $38,465 instructions The following costs were charged to Work in Process Sifting Department during July Direct materials transferred from Milling Department 15,700 units at $2.45 a unit $38 465 Direct labor 4.480 Factory overhead 1,022 During July 15,100 units of flour were completed Work in Process Sifting Department on July 31 was 1,300 units, completed Required: 1 Prepare a cost of production report for the Sitting Department for July. an amount is zero, enter *O* Round your Cost per equivalent unit answers to two decimal places. 2 Joumalize the entries for costs transferred from Milling to Sitting and the costs transferred from Sitting to Packaging Refer to the chart of accounts for the exact wording of the account titles CNOW journals do not use lines for journal explanations. Every line on a journal page 18 used for debitor credit entries. CNOW joumals will automahcally indent a credit entry when a credit amount is entered During July, 15, 100 units of flour were completed Work in Process-Sitting Department on July 31 was 1,300 units, 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 Milling to Sifting and the costs transferred from Sitting to Packaging Refer to the chart of accounts for the exact wording of the account titles CNOW joumals do not use lines for journd explanations. Every line on a journal page is used for debitor credit entries CNOW journals will automatically indent a credit entry when a credit amount is entered 3. Determine the increase or decrease in the cost per equivalent unit 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)