Equivalent Units and Related Costs; Cost of Production Report: Weighted Average Cost Method Joshua Flour Company manufactures flour by a series of three processes, beginning in the Milling Department. From the Milling Department, 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 labor 13,325 5,125 Factory overhead During March, 14,900 units of flour were completed. The balance of Work in Process-Sifting Department on March 31 was 2,800 units, 50% com Required:

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Equivalent Units and Related Costs; Cost of Production Report: Weighted Average Cost Method
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 labor
13,325
Factory overhead.
5,125
During March, 14,900 units of flour were completed. The balance of Work in Process-Sifting Department on March 31 was 2,800 units, 50% completed.
Required:
Prepare a cost of production report for the Sifting Department for March, using the weighted average cost method.
Joshua Flour Company
Cost of Production Report-Sifting Department
For the Month Ended March 31
Units
Units charged to production:
Units
Equivalent Units
of Production
Transcribed Image Text:< ebook Equivalent Units and Related Costs; Cost of Production Report: Weighted Average Cost Method 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 labor 13,325 Factory overhead. 5,125 During March, 14,900 units of flour were completed. The balance of Work in Process-Sifting Department on March 31 was 2,800 units, 50% completed. Required: Prepare a cost of production report for the Sifting Department for March, using the weighted average cost method. Joshua Flour Company Cost of Production Report-Sifting Department For the Month Ended March 31 Units Units charged to production: Units Equivalent Units of Production
Received from Milling Department
Total units accounted for by the Sifting Department
Units to be assigned cost:
Transferred to Packaging Department in March
Inventory in process, March 31
Total units to be assigned cost
Costs
Unit costs:
Total costs for March in Sifting Department
Total equivalent units
Cost per equivalent unit
Costs charged to production:
Inventory in process, March 1
Costs incurred in March
Total costs accounted for by the Sifting Department
Costs allocated to completed and partially completed units:
Transferred to Packaging Department in March
Inventory in process, March 31
Total costs assigned by the Sifting Department
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Transcribed Image Text:Received from Milling Department Total units accounted for by the Sifting Department Units to be assigned cost: Transferred to Packaging Department in March Inventory in process, March 31 Total units to be assigned cost Costs Unit costs: Total costs for March in Sifting Department Total equivalent units Cost per equivalent unit Costs charged to production: Inventory in process, March 1 Costs incurred in March Total costs accounted for by the Sifting Department Costs allocated to completed and partially completed units: Transferred to Packaging Department in March Inventory in process, March 31 Total costs assigned by the Sifting Department Check My Work 000 Previous Next
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