Homework Answers
Solution.
| Blue Ribbon Floor Company | ||
| Cost of Production Report-Sifting Department | ||
| For the Month Ended May 31 | ||
| Units Information | ||
| Units charged to Production: | ||
| Inventory in Process, May 1 | 1,500 | |
| Received from Milling Department | 18,300 | |
| Total units accounted for by the shifting department | 19,800 | |
| Units to be assigned costs: | Whole Units | Eqv. Units |
| Transferred to packing department in May | 18,000 | 18,000 |
| Inventory, in Process, May 31- Completed 75% | 1,800 | 1,350 |
| Units to account for | 19,800 | 19,350 |
| Costs Information | ||
| Cost per equivalent unit | ||
| Total Cost for May in shifting department | $ 58,050 | |
| Total equivalent units | $ 19,350 | |
| Cost per equivalent unit | 3.00 | |
| Costs Assigned to Production: | ||
| Inventory in process, May 1 | $ 3,400 | |
| Costs incurred in May | $ 54,650 | |
| Total costs accounted for by Shifting Department | $ 58,050 | |
| Costs allocated to partially completed & uncompleted Units: | ||
| Transferred to packing department in May (18,000 × 3) | $ 54,000 | |
| Inventory in process, May 31 ( 1,350 × 3) | $ 4,050 | |
| Total costs assigned by shifting department | $ 58,050 | |
| Note: 1) Under units information, Inventory in process on May 1, is 1,500 | ||
| units not $3,400 . But it has been wrongly reported as $3,400 that is cost of | ||
| inventory on May 1. | ||
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Cost of Production Report: Weighted average method Blue Ribbon Four Company manufactures flour by a series...
Cost of Production Report: Average Cost Method Blue Ribbon Flour Company manufactures flour by a series...
Cost of Production Report: Average Cost Method Blue Ribbon Flour Company manufactures flour by a series of three processes, beginning 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 May 1: Work in Process—Sifting Department (1,500 units, 75% completed) $3,400 The following costs were charged to Work in Process—Sifting Department during May: Direct materials...
Cost of Production Reports Average Cost Method Blue Ribbon Hour Company manufactures flour by a series...
Cost of Production Reports Average Cost Method Blue Ribbon Hour Company manufactures flour by a series of three processes, beginning in the Milling Department. From the Miling Department, the materials pass through the Sitting and Padaging departments, emerging as packaged refined flour The balance in the account Work in Process --Sifting Department was as follows on May 1: Work in Process Sifting Department (1.500 units, 75% completed) $3,400 The following costs were charged to Work in Process-Sting Department during May...
Appendix PR 3-5B Cost of production report: average cost method Blue Ribbon Flour Company manufactures flour...
Appendix PR 3-5B Cost of production report: average cost method Blue Ribbon Flour Company manufactures flour by a series of three processes, beginning 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 May 1: rred to Dept., 54,000 $3,400 Work in Process-Sifting Department (1,500 units, 75% completed) TEMPLATE The following costs were charged to...
Cost of Production e t Average Cast Method Blue Ribbon Four Company manufactures four by a...
Cost of Production e t Average Cast Method Blue Ribbon Four Company manufactures four by a series of the processes, beginning in the Ming Department from the Milling Department, the materials pass through the string and packaging departments, emerging as paded red flour. The balance in the account Work in Process-Sting Department was as follows on May 11 Work in Process ing Department (1.500 , completed) $3,400 The following costs were charged to work in Process-Sitting Department during May: Direct...
Joshua Flour Company manufactures flour by a series of three processes, beginning in the Milling Department....
Joshua Flour Company manufactures flour by a series of three processes, beginning 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 March 1: Work in Process—Sifting Department (3,200 units, 75% completed) $3,500 The following costs were charged to Work in Process—Sifting Department during March: Direct materials transferred from Milling Department: 14,500 units $51,400 Direct...
Joshua Flour Company manufactures flour by a series of three processes, beginning in the Milling Department....
Joshua Flour Company manufactures flour by a series of three processes, beginning 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 March 1: Work in Process-Sifting Department (3,200 units, 75% completed) $3,500 The following costs were charged to Work in Process-Sifting Department during March: Direct materials transferred from Milling Department: 14,500 units $51,400 Direct...
White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain...
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
was as follows on July 1:
Work in Process-Sifting Department
(900 units, 3/5 completed):
Direct materials (900 × $2.05)
$1,845
Conversion (900 × 3/5 × $0.40)
216
$2,061
The following costs...
White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain...
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 was as follows on July 1: Work in Process-Sifting Department (700 units, 3/5 completed): Direct materials (700 × $2.35) $1,645 Conversion (700 × 3/5 × $0.30) 126 $1,771 The following costs...
White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain...
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
was as follows on July 1:
Work in Process-Sifting Department (750 units, 3/5
completed):
Direct materials (750 × $2.25)
$1,688
Conversion (750 × 3/5 × $0.40)
180
$1,868
The following costs...
Instructions Chart of Accounts Cost of Production Report Journal Instructions White Diamond Flour Company manufactures flour...
Instructions Chart of Accounts Cost of Production Report Journal Instructions 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 was as follows on July 1: Work in Process-Sifting Department (700 units, 3/5 completed): Direct materials (700 * $2,35) $1,645 Conversion...
Cost of Production Reports Average Cost Method Blue Ribbon Hour Company manufactures flour by a series of three processes, beginning in the Milling Department. From the Miling Department, the materials pass through the Sitting and Padaging departments, emerging as packaged refined flour The balance in the account Work in Process --Sifting Department was as follows on May 1: Work in Process Sifting Department (1.500 units, 75% completed) $3,400 The following costs were charged to Work in Process-Sting Department during May...
Appendix PR 3-5B Cost of production report: average cost method Blue Ribbon Flour Company manufactures flour by a series of three processes, beginning 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 May 1: rred to Dept., 54,000 $3,400 Work in Process-Sifting Department (1,500 units, 75% completed) TEMPLATE The following costs were charged to...
Cost of Production e t Average Cast Method Blue Ribbon Four Company manufactures four by a series of the processes, beginning in the Ming Department from the Milling Department, the materials pass through the string and packaging departments, emerging as paded red flour. The balance in the account Work in Process-Sting Department was as follows on May 11 Work in Process ing Department (1.500 , completed) $3,400 The following costs were charged to work in Process-Sitting Department during May: Direct...
Joshua Flour Company manufactures flour by a series of three processes, beginning 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 March 1: Work in Process-Sifting Department (3,200 units, 75% completed) $3,500 The following costs were charged to Work in Process-Sifting Department during March: Direct materials transferred from Milling Department: 14,500 units $51,400 Direct...
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
was as follows on July 1:
Work in Process-Sifting Department
(900 units, 3/5 completed):
Direct materials (900 × $2.05)
$1,845
Conversion (900 × 3/5 × $0.40)
216
$2,061
The following costs...
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
was as follows on July 1:
Work in Process-Sifting Department (750 units, 3/5
completed):
Direct materials (750 × $2.25)
$1,688
Conversion (750 × 3/5 × $0.40)
180
$1,868
The following costs...
Instructions Chart of Accounts Cost of Production Report Journal Instructions 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 was as follows on July 1: Work in Process-Sifting Department (700 units, 3/5 completed): Direct materials (700 * $2,35) $1,645 Conversion...
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