Question
Hi I need help very badly ): The Sanding Department of Richards Furniture Company has the following production and manufacturing cost data for March 2014,
Hi I need help very badly ):
The Sanding Department of Richards Furniture Company has the following production and manufacturing cost data for March 2014, the first month of operation. Production: 9,000 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 $24,000; overhead $36,000. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.)
I need help with the ones missing/marked red. Thank you :)
RICHARDS FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2014 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Work in process, March 1 Started into production 12,000 12,000 Total units Units accounted for Transferred out 9,000 9,000 600 Work in process, March 31 3.000 Total units 12,000 12.000 9,600 Conversion Costs Materials Total Costs Unit costs Total Costs 33,000 36,000 69,000 Equivalent units 12,000 9,600 Unit costs 3.75 6.50 Costs to be accounted for Work in process, March 1 Started into production 93,000 Total costs 93,000 Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, March 31 Materials Conversion costs Total costsStep by Step Solution
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