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-Sitting Department was as follows on July 12 Work in Process-Sitting Department (800 units, 3/5 completed): Direct materials (800 - $2.25) $1,800 Conversion (800 x 3/5 x 50,40) 192 $1.992 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 unt $38,540 Direct labor 4,480 Factory overhead 2,045 During July 16,100 units of flour were completed. Work in Process-Sitting Department on July 31 was 1.100 units, 4/5 completed Required: 1. Prepare a cost of production report for the Sitting Department for an amount is zero, entero Round your cost per unit answers to the nearest cent and final answers to the nearest dollar amount uins | eBook Required: 1. Prepare a cost of production report for the Sifting Department for July. If an amount is zero, enter "o". Round your cost per unit answers to the nearest cent and final answers to the nearest dollar amount 2. Joumalize the entries for costs transferred from Mailing to Sifting and the costs transferred from Sitting 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 suy 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). Chart of Accounts CHART OF ACCOUNTS White Diamond Flour Company General Ledger ASSETS REVENUE 410 Sales 110 Cash 121 Accounts Receivable 125 Notes Recolvable 610 Interest Revenue EXPENSES 126 Interest Receivable 131 Materials 141 Work in Process Milling 142 Work in Process Sifting 510 Cost of Goods Sold 520 Wages Expenso 531 Selling Expenses 537 Insurance Expense 143 Work in Process Packaging CHU WHITE DIAMOND FLOUR COMPANY Cost of Production Report-Sifting Department For the Month Ended July 31 Equivalent Units UNITS Whole Units Direct Materials Conversion Units charged to production: Inventory in process, July 1 Received from Milling Department Total units accounted for by the Sifting 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 Inventory in process, July 31 (4/5 completed) Total units to be assigned costs Costs COSTS Direct Materials Conversion Total Check My Work 1 more Check My Work uses remaining Email Instructor Save and Exit Su MacBook Air Journalize the entries for costs transferred from Milling to Sitting and the costs transferred from Sifting to Packaging. Refer to the Chart of Accounts for correct wording of acc itles. Use the date July 31 for all journal entries PAGE 10 JOURNAL DATE DESCRIPTION POST: REF DEBIT CREDIT 1 2 3 Final Questions 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: Conversion 3 4. The cost of production report may be used as the basis for allocating product costs between arid The report can also used to control posts by holding each dopartment head responsible for the units entering production and the costs incurred in the department. Any differences in unit product costs fro one month to another, such as those in part (3), can be studied carefully and any significant differences investigated