Lily Flour Company manufactures flour by a series of three processes, beginning with wheat being introduced in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as a packaged refined flour.;The balance in the account Work in Process--Sifting Department was as follows on July 1, 2014;Work in Process--Sifting Department (700 units, 3/5 completed);Direct Materials (700x$2.58) $1806;Conversion (700x$0.55) 231;equals $2037;The following costs were charged to Work in Process--Sifting Department during July;Direct materials transferred from Milling Department;12,300 units at $2.60 a unit $31980;Direct Labor 4670;Factory Overhead 2758;During July, 12,000 units of flour were completed. Work in Process--Sifting Department on July 31 was 1,000 units, 4/5 completed.;1. Prepare a cost of production report for the sifting department for July;2. Journalize the entries for costs transferred from Milling to Sifting and the costs transferred from Sifting to Packaging.;3. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversion costs.
Paper#81519 | Written in 18-Jul-2015Price : $27