Exercise: The Sanding Department of Richards Furnirure Company has the following production and manufacturing cost data for March 2014 , the first month of operation. Production: 8,000 units finished and transferred out; 2,000 units started that are 100% complete as to materials and 25% complete as to conversion costs. Manufacturing costs: Materials $34,000; labor $26,000; overhead $37,000. Instructions Prepare a production cost report. RICHARDS FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2014 Work in process - Conversion costs are