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E3-7 Prepare a production report The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first
E3-7 Prepare a production report | |||||||||||
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost | |||||||||||
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 | |||||||||||
materials and 20% complete as to conversion costs. | |||||||||||
Manufacturing costs: Materials $33,000; labor $21,000; overhead $36,000. | |||||||||||
Instructions | |||||||||||
Prepare a production cost report. | |||||||||||
NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" . | |||||||||||
After you have completed the requirements of E3-7, consider this additional question. | |||||||||
1. | Assume that 9,000 units were completed and transferred out. Show the impact of this change | ||||||||
on the calculation of equivalent units, unit cost, and on the cost reconciliation schedule. | |||||||||
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