AutoSave OFF 1Copy of Ch16 Excel Ten Home Insert Draw Page Layout Formulas Data Review View Developer X cut Liberation Sans 10 = Paste copy 20 Wrap Text Genera Format B U v Merge & Center $ A52 X fx After you have completed the requirements of E16-7, consider this additional question. A G H K E16-7 Prepare a production report 2 The Sanding Department of Quik Furniture Company has the following production and manufacturing cost 3 data for March 2017, the first month of operation. Production: 7,000 units finished and transferred out; 3,000 units started that are 100% complete as to UI materials and 20% complete as to conversion costs. Manufacturing costs: Materials $33,000; labor $21,000; overhead $36,000. 8 Instructions Prepare a production cost report. 10 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" 11 14 QUIK FURNITURE COMPANY 15 Sanding Department 16 Production Cost Report 17 For the Month ended March 31, 2017 18 Equivalent Units Physical Conversion 19 Quantities Units Materials Costs 20 Units to be accounted for 21 Work in process, March 1 Value 22 Started into production Value 23 Total units 24 25 Units accounted for 26 Transferred out Value Value Value 27 Work in process, March 31 Value Value ? 28 Total units ? ? 29 30 Conversion 31 Costs Materials Costs Total 32 Unit costs 33 Total cost(a) C. 34 Equivalent units (b) Value Value 35 Unit costs (a) + (b) ? 36 37 Costs to be accounted for 38 Work in process, March 1 Value E16-7 E16-11 CD16 +Home Insert Draw Page Layout Formulas Data Review D v A Cut ' Liberation Sans vH10 V' A A E E : LE Corny V ' _ Paste u v :.' v