Wood Products, Inc., manufactures plywood in two processing departments, Milling and Sanding, and uses the weighted average method for its process costing system. The table that follows shows information for the Milling department for the month of April.

Required:

1. Make a production cost report for the Milling department for the month of April. (Use the Exel format as demonstrated in the lecture, as outlined below)

2. Confirm that total costs to be accounted for (from step 2) equals total costs accounted for (from step 4); minor differences may occur due to rounding the cost per equivalent unit in step 3.

3. For the Milling department at Wood Products, Inc., prepare journal entries to record:

a. The cost of direct materials placed into production during the month

b. Direct labor costs incurred during the month but not yet paid

c. The application of overhead costs during the month

d. The transfer of costs from the Milling department to the Sanding department

Just need arrowed areas, please!

Milling 24,000 110,000 Unit Information (Measured in Feet) Beginning work-in-process inventory Started or transferred in during the month Ending work-in-process inventory: 80 percent materials, 70 percent labor, and 60 percent overhead 32,000 Cost Information Beginning Work-in-Process Inventory Direct materials 9,000 Direct labor Overhead 3,200 Costs Incurred during the Period Direct materials 45,000 Direct labor Overhead 14,000 16,000 DM DL Physical Units % Complete 100% 100% 80% % Complete % Complete 100% 100% 60% EUP EUP EUP 24,000 78,000 32,000 134,000 24,000 78,000 25,600 127,600 100% 100% 24,000 78,000 22,400 124,400 24,000 78,000 19,200 121,200 8BWIP 9 S/C 0 EWIP 1 EUP 3 Costs: 4 Beginning 5 Started (Added this period 6 Costs to Account for: 15,200 75,000 90,200 3,000 14,000 9,000 45,000 3,200 16,000 54,000 17,000 19,200 Cost per EU [Costs to 8 account for/EUP 9 0 TO 1 EWIP 2 Costs Accounted for: 0.42 0.72 0.14 0.16 73,263 16,937 90,200 43,166 10,834 54,000 13,939 3,061 17,000 16,158 3,042 19,200 UNITS UNITS 24,000 110,000 134,000 TO 102,000 24,000 78,000 BWIP Started To Acct For: (BWIP OR STARTED (EWIP =s/c 110,000 32,000 78,000 TO EWIP Accounted For 102,000 32,000 134,000 Note that Started and TI are the same thing Date (Letter) 1-Apr Debit Credit Account WIP - Milling 45,000 Raw Materials Inventory 45,000 WIP - Milling 14,000 Wages Payable 14,000 WIP - Milling 16,000 Manufacturing Overhead 16,000 WIP - Sanding WIP - Milling