Cost of Production Report: No Beginning Inventories

Atlanta Paper Company produces newsprint paper through a special recycling process using scrap paper products. Production and cost data for October 2017, the first month of operations for the company's new Brunswick plant, follow:

Units of product started in process during October - 80,000 tons

Units completed and transferred to finished goods - 75,000 tons

Machine hours operated - 7,000

Direct materials costs incurred - $ 486,000

Direct labor costs incurred - $ 190,800

Raw materials are added at the beginning of the process for each unit of product produced, and labor and manufacturing overhead are added evenly throughout the manufacturing process. Manufacturing overhead is applied to Work-in-Process at the rate of $24 per machine hour. Units in process at the end of the period were 60 percent converted.

What are the correct figures for the cost of production report for Atlanta Paper Company for October.

• Round answers to the nearest whole number unless otherwise noted.
• Do not use negative signs with any of your answers.

ATLANTA PAPER COMPANY Cost of Production Report For the Month Ending October 31. 2017 Summa of units in process (tons): Beginning Units started In process Completed Ending Equivalent units in process: Units completed Plus equivalent units in ending inventory Equivalent units in process Total cost to be accounted for and cost per equivalent unit in process: Beginning workin-process Current costs Total cost in process Equivalent units in process Cost per equivalent unit in process (Do not round answers.) Acco u nting for total costs: Transferred out Ending workinprocess: Materials Conversion Total cost accounted for 0 V 80,000 V 80,000 V 75,000 V 5,000 V Materials Conversion Total 75,000 V 75,000 V 5,000 V 3,000 V 80,000 V 78,000 V 35 0 v 0 v 3; 0 v 486,000 V 0 X 0 8 $ 486,000 V 0 8 $ 0 8 $ 80,000 V 78,000 V 35 6.075 V 4.9 8 $ 10.975 8 $ 0 x 30,375 V 0 8 8 35 x