1. COST of Production report summary, two departments: no beginning inventory

Polishing, the second department in a three-department production process of ivory Inc. received 10,000 units with a total cost of $137,500 at a unit cost of $13.75 from Blending during the month of November. Production costs in polishing during the month were: materials, $12,650: labor, $28,820: and factory overhead, $13,7000. Of the 10,000 units transferred in, 8,500 units were completed and transferred to finishing department during the month and 1,500 units remained in work in process at the end of the month, three -fifth complete. Prepare polishing department cost of production summary for November

PRODUCTION COSTS

Cost added this month in Polishing Department:

Material $12,650

Labor 28,820

Factory Overhead 13,700 $55,170

Transferred In cost From Cutting Dept 137,750

Total costs to be accounted for $192,920

Production Report Units

Finished and transferred to finishing Dept.., during month 8,500

Work- in-process, end off month, two- fifth completed 1,500