Lily 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 was as follows on July 1, 2014:
The following costs were charged to Work in Process Sifting Department during July:
During July, 12,000 units of flour were completed. Work in Process Sifting Department on July 31 was 1,000 units, 4 5 completed.
Required:
1. Prepare a cost of production report for the Sifting Department for July. If an amount is zero, enter “0”. If required, round your cost per equivalent unit answers to the nearest cent. |
Lily 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 was as follows on July 1, 2014:?? The following costs were charged to Work in Process—Sifting Department during July: ?? During July, 12,000 units of flour were completed. Work in Process—Sifting Department on July 31 was 1,000 units, 4/5 completed. Required: ? ?? HYPERLINK “http://cvg.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take” o “Hide” ?Hide?????1. Prepare a cost of production report for the Sifting Department for July. If an amount is zero, enter “0”. If required, round your cost per equivalent unit answers to the nearest cent. Lily Flour Company ????Cost of Production Report-Sifting Department ????For the Month Ended July 31, 2014 ????Unit Information ??Units charged to production:??Inventory in process, July 1 ???????Received from Milling Department ???????Total units accounted for by the Sifting Department ???????????Units to be assigned costs:????Equivalent Units ?????Whole Units ???Direct Materials ???Conversion ????Inventory in process, July 1 ?????????????Started and completed in July ?????????????Transferred to Packaging Department in July ?????????????Inventory in process, July 31 ?????????????Total units to be assigned costs ???????????????Cost Information ??Costs per equivalent unit:???Direct Materials ???Conversion ????Total costs for July in Sifting Department ???$ ???$ ????Total equivalent units ??????????Cost per equivalent unit ???$ ???$ ????????Costs charged to production:???Direct Materials ???Conversion ???Total ????Inventory in process, July 1 ?????$ ????Costs incurred in July ?????????Total costs accounted for by the Sifting…
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flour_company….docx