Problem No. 1: Production Report (35 points) - The Canterbury Corporation has the following production report information for the month of January, 20XX for the Detailing Department, its second department: 420 4,100 Quantities: Work in Process, Beginning Transferred In from Prior Department Transferred Out to Finished Goods: From Beginning Work in Process Started and Completed in Current Period Work in Process, Ending 420 3,720 380 Stage of Completion: Materials Labor Overhead Beginning Inventory 50% 40% 40% Ending Inventory 25% 25% 25% Costs: Prior Department Materials Labor Overhead Prior Period $4,531.80 98.70 327.60 157.92 $5,116.02 Current Period $44,961.00 2,012.50 8,093.33 4,025.00 $59,091.83 Instructions: Using the Average Costing method, complete a Cost of Production Report. For 10 points extra credit, journalize the report and the transfer of units. Canterbury Corp. Detailing Department Equivalent Units of Production Month of January Prior Department Costs Transferred Out to Next Department Work in Process--Ending units x % complete) Equivalent Production for Prior Department costs Materials, Labor and Manufacturing Overhead Transferred Out to Finished Goods Work in Process --Ending ( units x % complete) Equivalent Production for Materials. Labor and Overhead LOOOO Uite Ruantity Schedule Quantity to Be Accounted For: Work in Process-Beginning Started or Transferred in--Current Month Total Units Accounted For Desntity Accounted For: Transferred Out to Next Department Work in Process-Ending Total Units Accounted For EP. Units Unit Cost W in Cest Schedule Total Cost Costs to be accounted For: Costs Transferred In From Prior Department Work in Process Beginning Transferred In-Current Month Total Prior Department Cost Cost incurred in Current Department Materials-Beginning Work in Process Added in Current Month Total Material: Labor-Beginning Work in Process Added in Current Month Total Lobo Overhead-Beginning Work in Process Added in Current Month Total Overhead Total Costs in Current Department Total Costs to Be Accounted For Costs Accounted For: Transferred Out to Next Department Work in Process Ending Costs Transferred In From Prior Department Costs incurred in Current Department Materials Labor Overhead Total Work in Process Total Costs Accounted For