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 transferred from Milling Department: 18,300 units | $32,600 |
| Direct labor | 14,560 |
| Factory overhead | 7,490 |
During May, 18,000 units of flour were completed and transferred to finished goods. Work in Process—Sifting Department on May 31 was 1,800 units, 75% completed.
Required:
Prepare a cost of production report for the Sifting Department for May, using the average cost method.
| Blue Ribbon Flour Company | ||
| Cost of Production Report—Sifting Department | ||
| For the Month Ended May 31 | ||
| Unit Information | ||
| Units charged to production: | ||
| Inventory in process, May 1 | ||
| Received from Milling Department | ||
| Total units accounted for by the Sifting Department | ||
| Units to be assigned costs: | ||
| Whole Units | Equivalent Units of Production | |
| Transferred to Packaging Department in May | ||
| Inventory in process, May 31 | ||
| Total units to be assigned costs | ||
| Cost Information | ||
| Cost per equivalent unit: | ||
| Costs | ||
| Total costs for May in Sifting Department | $ | |
| Total equivalent units | ||
| Cost per equivalent unit | $ | |
| Costs assigned to production: | ||
| Inventory in process, May 1 | $ | |
| Costs incurred in May | ||
| Total costs accounted for by the Sifting Department | $ | |
| Costs allocated to completed and partially completed units: | ||
| Transferred to Packaging Department in May | $ | |
| Inventory in process, May 31 | ||
| Total costs assigned by the Sifting Department | $ | |
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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...
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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...
White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain...
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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
(1,000 units, 3/5 completed):
Direct materials (1,000 × $2.15)
$2,150
Conversion (1,000 × 3/5 × $0.40)
240
$2,390
The following costs...
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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...
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
(1,000 units, 3/5 completed):
Direct materials (1,000 × $2.15)
$2,150
Conversion (1,000 × 3/5 × $0.40)
240
$2,390
The following costs...
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