Exercise 21-07 The Sanding Department of Sheridan Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 6,940 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 $38,766; labor $20,500; overhead $43,213. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to O decimal places, e.g. 125.) SHERIDAN FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2020 Equivalent Units Physical Units Conversion Costs antities Materialts Units to be accounted for Work in process, March 1 Started into production Total units Units accounted for Transferred out Work in process, March 31