Preparing a cost of production report. The Kilbride Corporation produces a single product. All materials are added at the beginning of production.

On January 1, 19X7, 8,000 pounds of the product were in process in the first department. During the month of January, 75,000 pounds were put into production.

On January 31, 12,000 pounds were still in process. The ending inventory is estimated to be complete as to materials and two-thirds complete as to labor and overhead. Cost data for the month of January are shown below.

Instructions Prepare a cost of production report for the month of January.

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Materials Beginning Work in Process Inventory $ 32,000 Added During January 288,000 Labor $ 14,400 133,040 Overhead $ 7,200 68,800