Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Last column is total. Please, show your work if possible. The sanding department of Hanninen Furniture Company has the following production and manufacturing cost data

image text in transcribedimage text in transcribedimage text in transcribed

Last column is "total".

Please, show your work if possible.

The sanding department of Hanninen Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 10,750 units finished and transferred out; 3,800 units started that are 100% complete in terms of materials and 25% complete in terms of conversion costs. Manufacturing costs: materials $48,015; labour $41,350; overhead $33,530. Prepare a production cost report. (Round unit costs to 2 decimal places, eg 15.25.) HANNINEN FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Work in process, March 1 Started into Production Total units 14550 14550 Units accounted for 10750 10750 10750 Transferred out Work in Process March 31 Total units 3800 3800 950 14550 14550 11700 Costs Unit costs Costs in March $ 48015 $ 14550 Equivalent units Unit costs $ $ $ Costs to be accounted for Work in process, March 1 Started into Production Total $ costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, March 31 $ $ Materials Conversion costs Total costs $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions