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White Diamond Flour Compary manutactures flour by a senes of thiee seocesses, bepinning with wheat grain beevg reoduced in the MAny Department. From the Maing Department, the raterus pass through the 5fing and Packigng departrients, emerging as packaged iefined four The batance in the sccoirt Work in Proceissifing Department was as follows on July 1. The lofowng coss wire charged to Workin Process seing Departient durvo Jus 1. Prepare a cost of production report for the Sithing Department for July If an amount is zero, enter "O0. Round your cost per unit answers to the nearest cent. 2 Joumalize the entries for costs transtemed from Muling to Silting and the costs transferred from Sthing to Packagng Refer fo the chart of accounts for the exact wording of the account tites. CNOW joumats do not use ines for spaces or pumat explanations. Every tine on a joumat pape is ised for debit or credit entries. Do not add expianabions or skp a lne between journal entries CNOW joumals will awdomatically indent a credit entry when a credt amount is entered Use the dafe July 31 for all joumal enthes 3. Determine the increase or decrease in the cost per eguivalent uns from June to Jily for dired mafenals and conversion costs. Round your answers to the nearest cent. 4. Discuss the uses of the cost of production report and the resuits of part (3) ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Recervable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable 131 Materials EXPENSES 141WorkinProcess-MillingDepartment142WorkinProcessSittingDepartment143WorkinProcess.PackagingDepartment151.FactoryOverhead-MillingDepartment152FactoryOverhead-SittingDepartment153FactoryOverhead-PackagingDepartment520WagesExpense531SellngExpenses532InsuranceExpense533UtiliesExpense534SuppliesExpense540AdministrativeExpenses 161 Finished Goods 561 Depreciation Expense-Factory 171 Supplies 590 Miscellaneous Expense 172. Prepaid Insurance 710 Interest Expense 173 Prepaid Expenses 181 Land 191. Factory 192 Accumulated Depreciation-Factory LIABILITES 192 Accumulated Depreciation-Factory LIABILITIES 210 Accounts Payable 221 Utities Payable 231 Notes Payable 236 interest Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Eamings 351 Dividends 390 income Summary 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 eent. pounals wil aulomaticaly indent a credit entry when a credf amount is eniered use the dafe fuly It for al joumal enthies 3. Deiemine the increase or decrease in fle cost per equvalent wnt from June to dily for diect mafenaly and converson costh Round your answers ro the nearest cent. Duect nuteriahs Convenion 4 Docuss ine uses of the cost of produclon isport and the resibts of part l3 The cont of pooucion moge mar be uned bs the basis for alocatry product cosh betioned and The report can aid te uned furconoci