Question
Please help me fill out the boxes below. The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March
Please help me fill out the boxes below.
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation. Production: 7,270 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 $ 34,199; labor $ 20,600; overhead $ 39,606. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.)
QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2017 | ||||||||
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Equivalent Units | ||||||||
Quantities | Physical Units | Materials | Conversion Costs | |||||
Units to be accounted for | ||||||||
Work in process, March 1 | enter the number of units | |||||||
Started into production | enter the number of units | |||||||
Total units | enter a total of the two previous numbers of units | |||||||
Units accounted for | ||||||||
Transferred out | enter the number of units | enter the number of units | enter the number of units | |||||
Work in process, March 31 | enter the number of units | enter the number of units | enter the number of units | |||||
Total units | enter a total of the two previous numbers of units | enter a total of the two previous numbers of units | enter a total of the two previous numbers of units | |||||
Costs | Materials | Conversion Costs | Total | |||||
Unit costs | ||||||||
Total Costs | $ enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | |||||
Equivalent units | enter the number of units | enter the number of units | ||||||
Unit costs | $ enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | |||||
Costs to be accounted for | ||||||||
Work in process, March 1 | $ enter a dollar amount | |||||||
Started into production | enter a dollar amount | |||||||
Total costs | $ enter a total of the two previous amounts | |||||||
Cost Reconciliation Schedule | ||||||||
Costs accounted for | ||||||||
Transferred out | $ enter a dollar amount | |||||||
Work in process, March 31 | ||||||||
Materials | $ enter a dollar amount | |||||||
Conversion costs | enter a dollar amount | enter a subtotal of the two previous amounts | ||||||
Total costs | $ enter a total amount for this part of the report |
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