Instructions White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat 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: Work in Process-Sifting Department (800 units, 3/5 completed): Direct materials (800 x $2.25) $1,800 Conversion (800 x 3/5 x $0.40) 192 $1,992 The following costs were charged to Work in Process-Sifting Department during July: Direct materials transferred from Milling Department: 16,400 units at $2.35 a unit Direct labor Factory overhead Check My Work $38,540 4,480 2,945 LGO GO GO NKSHEETA NKSHEETA UNITS Units charged to production WHITE DIAMOND FLOUR COMPANY Cost of Production Report Sitting Department For the Month Ended July 31 Whole Unit Inventory in process, July 1 800 Received from Ming Department 16,400 Total units accounted for by the Sifting Department 17,200 Units to be assigned cost Inventory in process July 1 (35 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 Exquivalent Units Direct Materials Conversion 800 320 800 x Points: 6/15 COSTS Cost per equivalent unit Total costs for July in Siting Department EETA Total equivalent units EETA Cost per equivalent unt Costs assigned to production Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Sifting Department Costs allocated to completed and partially completed units Inventory in process, July 1-balance To complete inventory in process, July 1 Cost of completed July 1 work in process Started and completed in July Transferred to Packaging Department in July S Costs Direct Materials Conversion Total $38,540 S S S S $ $ S Shaded is a Sector 2. Joumalize the entries for costs transferred from Miting to Sing and the costs transferred from Sutting to Packaging Refer to the chart of accounts for the exact wording of the account les CNOW als do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries CNOW pournals wil automatically indent a credit entry when a credit amount is entered. Use the date July 31 for all mal tes Question not attempted. DATE Feedback JOURNAL Score: 0/51 DESCRIPTION POST REF DET CREDIT PAGE 10 ACCOUNTING EQUATION ASSETS UANUITIES EQUITY Points: 10/10 Final Questions Shated cat have tract 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 S Conversion S Increase Increase 4. Discuss the uses of the cost of production report and the results of part (3) Points 1214 The cost of production report may be used as the basis for allocating product costs between Work in Process holding each department head responsible for the units entering production 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 differences investigated. and Finished Goods The report can also be used to control costs by Feedback Check My Work 3 Compare the cost per equivalent unit for June and July Points 12/2 Equivalent units and related costs; cost of production report; entries Chart of Accounts Cost of Production Report Journal Final Questions instructions While Diamond Flour Company manufactures four 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-Siting Department was as follows on July 1 Work in Process-Sting Department (800 units, 3/5 completed) Direct materials (000x52.25) $1,000 Conversion (300x35x50 40) 192 $1,992 The following costs were charged to Work in Process-Sifting Department during July Direct materials transferred from Miling Department 16,400 units at $2.35 a unit Shark My What $38.540 AMO Previous $1,992 The following costs were charged to Work in Process Sifting Department during July Dvect materials transferred from Milling Department KSHEETA KSHEETA 16,400 units at $2.35 a unit Direct labor Factory overhead $38.540 4.450 2,545 During July, 16. 100 units of four were completed Work in Process-Sifing Department on July 31 was 1,100 units. 4/5 completed Required: 1 Prepare a cost of production report for the Siting Department for July if an amount is er eter 0 Round your cost per unit answers to the nearest cent and final answers to the nearest dollar amount 2 Joumalize the entries for coats transferred from Milling to Gifting and the coats watered from Sing to Packaging Peter to the chart of accounts for the exact wording of the account sites CNOW joumals do not use lines for spaces or journal explanations Every line on a journa page is used for cent or credit entries Do not add explanations or ako a line between journal entries CNOW joumals will automatically m a credit entry when a credit amount is entered Use the date July 31 for all jou eie 3. Determine the increase or decrease in the so cecitant from June to July for direct materials and conversion costs Round your answers to the nearest cent Cer 17-Work Problems 702A ALGO 705A ALGO 048 ALGO 01A BLANKSHEETA 03A BLANKSHEETA UNITS WHITE DIAMOND FLOUR COMPANY Cost of Production Report Sitteng Department For the Month Ended July 31 Whole Units Units charged to production ventory in process, July 1 Received from Miling Department 16.400 Total units accounted for by the Sting Department 17.200 Units to be assigned co Inventory in process July 135 completed) Started and competed in July Transferred to Packaging Department in July Inventory in process July 31:45 completed 300 800X Total units to be assigned costs Check My Work Equivalent Units Direct Ma Conversion 320 Pos ETA... TA 1. Callale opvalent units for direct mulia and conion cos Cost per equivalent unit COSTS Total costs for Juty in Seting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process July 11 Costs incuned in July Total costs accounted for by the Sifting Department Costs allocated to completed and partially completed units inventory in process July 1-balance To complete inventory in process. July 1 Cost of completed July 1 work in process $ Costs Direct Materials Conversion Total $38,540 5 $ S 15 17-Work Problems ZA ALGO SA ALGO BALGO A BLANKSHEETA ABLANKSHEETA eBook Costs incured in July Total costs accounted for by the Sing Department Costs allocated to completed and partly completed unt Inventory in process, July 1-balance To complete inventory in process, July 1 Cost of completed July 1 work in process Started and completed in July Transfened to Packaging Department Invertory in process July 31 Total costs assigned by the Sing Department F Check My A s $ $ $ $ Ports 22 1. Calculate the cost per equivalent und for dect materials and conversion costs Calculate the costs assigned to the begiving ventory, the units started and competed and the rk Problems eBook CNOW pumas wit automatically i when a crest amount is entered Use the date July 31 for at pumal entre Question not attempted. KSHEETA DATE KSHEETA Feedack JOURNAL Score: 0/51 ACCOUNTING EQUATION DEBY UMLINES Parts 0/10 Chick My Wo 2 Remember that there are three types of inventory materials work in process and fished goods. What costs are captured in the Work in Process account Ace these units 100% complete or are they being transfered to another department Final Questions Shaded cells have feedback 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 Drect materials S Conversion S Increase Increase v Points 274 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 Work in Process and Finished Goods The report can also be used to control costs by holding each department head responsible for the units entering production and the costs incumed 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 differences investigated Feeback Check My Wak 3 Compare the cost per equivalent unit for June and July 4 Review the benefits of the cost of production report Points 2/2