White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour.

The balance in the account Work in Process-Sifting Department wa

Tuled costs; cost of production report; entries Instructions Chart of Accounts Cost of Production Report Instructions Journal White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Miling Department. From the Nalling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Sitting Department was as follows on July 1, 2016: Work in Process-Sifting Department (800 units, } completed): Direct materials (600 * $2.25) $1,350 Conversion (800 x } $0.40) 144 $1,494 Cost of Production Report 1. Prepare a cost of production report for the Sitting Department for July x x WHITE DIAMOND FLOUR COMPANY Cost of Production Report-Sifting Department For the Month Ended July 31, 2016 UNITS Whole Units Equivalent Units Direct Materials Conversion Units charged to production: Inventory in process, July 1 Received from Milling Department Total units accounted for by the Sitting Department Units to be assigned costs: Inventory in process, July 1l completed) Started and completed in July Transferred to Packaging Department in July Inventory in process, July 31 ( completed) Calculator Instructions Cost of Production Report Total units to be assigned costs COSTS Costs Direct Materials Conversion Costs per equivalent unit Total costs for July in Sifting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Sitting Department Cost allocated to completed and partially completed units: Inventory in process, July 1 balance Instructions Cost of Production Report Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Sifting Department Cost 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 Inventory in process, July 31 Total costs assigned by the Sitting Department Instructions L ors entries Chart of Accounts Cost of Production Report Journal Journal 2. Journalize the entries for costs transferred from Milling to Sitting and the costs transferred from Sitting to Packaging Refer to the Chart of Accounts for correct wording of account titles. JOURNAL DATE DESCRIPTION POST REE D EBIT CREDIT Previous kuses remaining Course: SPECIAL TOPICS IN SUPPLY... Calculator Post Attendee - Zoom Journal Final Questions 3. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversions Direct materials: Conversion: S 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 production and the costs in department. Any differences in unit product costs from one month to another, such as those in part (3), can be studied carefully and any sign differences investigated. Tuled costs; cost of production report; entries Instructions Chart of Accounts Cost of Production Report Instructions Journal White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Miling Department. From the Nalling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Sitting Department was as follows on July 1, 2016: Work in Process-Sifting Department (800 units, } completed): Direct materials (600 * $2.25) $1,350 Conversion (800 x } $0.40) 144 $1,494 Cost of Production Report 1. Prepare a cost of production report for the Sitting Department for July x x WHITE DIAMOND FLOUR COMPANY Cost of Production Report-Sifting Department For the Month Ended July 31, 2016 UNITS Whole Units Equivalent Units Direct Materials Conversion Units charged to production: Inventory in process, July 1 Received from Milling Department Total units accounted for by the Sitting Department Units to be assigned costs: Inventory in process, July 1l completed) Started and completed in July Transferred to Packaging Department in July Inventory in process, July 31 ( completed) Calculator Instructions Cost of Production Report Total units to be assigned costs COSTS Costs Direct Materials Conversion Costs per equivalent unit Total costs for July in Sifting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Sitting Department Cost allocated to completed and partially completed units: Inventory in process, July 1 balance Instructions Cost of Production Report Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Sifting Department Cost 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 Inventory in process, July 31 Total costs assigned by the Sitting Department Instructions L ors entries Chart of Accounts Cost of Production Report Journal Journal 2. Journalize the entries for costs transferred from Milling to Sitting and the costs transferred from Sitting to Packaging Refer to the Chart of Accounts for correct wording of account titles. JOURNAL DATE DESCRIPTION POST REE D EBIT CREDIT Previous kuses remaining Course: SPECIAL TOPICS IN SUPPLY... Calculator Post Attendee - Zoom Journal Final Questions 3. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversions Direct materials: Conversion: S 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 production and the costs in department. Any differences in unit product costs from one month to another, such as those in part (3), can be studied carefully and any sign differences investigated