During July, 15,500 units of flour were completed. Work in Process-Sifting Department on July 31...
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Accounting
During July, 15,500 units of flour were completed. Work in Process-Sifting Department on July 31 was 1,100 units, 4/5 completed. 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. 2. Journalize the entries for costs transferred from Milling to Sifting and the costs transferred from Sifting to Packaging. Peler to the chart of accounts for the exact wording of the account titles. CNOW journals 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 journals will automatically indent a credit entry when a credit amount is entered. Use the date July 31 for all journal entries. 3. Determine the increase or decrease in the cest per equivalent unit from June to July 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)
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