B 1 Problem 2: (Completion rates for DM and CC are the same) 2 Blue Ribbon Flour Company manufactures flour by a series of three processes, 3 beginning in the Milling Department. From the Milling Department, the materials pass through 4 the Sifting and Packaging departments, emerging as packaged refined flour. C D E G 6 The information for Work in Process-Sifting Department was as follows: 7 Work in Process-Sifting Department, May 1 2,500 units, 75% completed $7,800 8 The following costs were charged to Work in Process-Sifting Dept. during May: 10 Direct materials transferred from Milling Department: 22,500 units 11 Direct labor $55,300 $24,300 12 Factory overhead $15,500 13 14 During May, 23,000 units of flour were completed and transferred to finished goods. 15 Work in Process-Sifting Department on May 31 was 2,000 units, 75% completed. 16 17 Required: 18 19 Prepare a cost of production report in the table below for the Sifting Department for May, using the 20 weighted average method. Assume that direct materials are placed in process during production. 21 .e., the completion rates for DM and CC are the same. 22 23 24 25 26 Blue Ribbon Flour Company Cost of Production Report-Sifting Department For the Month Ended May 31 27 Unit Information 28 Units charged to production: 29 Inventory in process, May 1 30 Received from Milling Department 31 Total units to accunt for by the Sifting Department 32 33 Units to be assigned costs: 34 Transferred to Packaging Department in May 35 Inventory in process, May 31 36 Total units to be assigned costs 37 38 Cost Information 39 Costs assigned to production: 40 Inventory in process, May 1 41 Costs incurred in May 42 Total costs accounted for by the Sifting Department 43 Total equivalent units 44 Cost per equivalent unit 45 45 Costs allocated to completed units and EWIP units: 47 Units Transferred to Packaging Department in May 48 Inventory in process, May 31 49 Total costs assigned by the Sifting Department 50 51 Whole or physical Units Equivalent Units