Required: prepare a cost of production summary for each department Harmon Corporation uses a process cost system. The records for the month of May show the following information: Production Report Cutting Grinding Units in process, May 1 5000 10000 Started during the month 20000 Received from prior department - 15000 Finished and transferred 15000 10000 Finished and on hand 5000 Units in process, May 31 5000 15000 Stage of completion 1/5 1/3 Production Costs Work in process, May 1 Costs in cutting 50000 Materials 5000 Labor 6450 Factory overhead 3550 Costs in Grinding: Materials 5000 Labor 5500 Factory overhead 3500 Costs incurred during the month Materials 37000 40000 Labor 45000 44000 Factory Overhead 50000 37000 Total _______ _______ $147000 $185000

Name: Section: Problem 5-6 Harmon Corporation Cost of Production Summary -- Cutting For the Month Ended May 31, 20xx Cost of work in process, May 1: Materials Labor Factory overhead $- Cost of production for month: Materials Labor Factory overhead Total costs to be accounted for - Unit output for month: Finished and transferred to Grinding Finished and on hand Equivalent units of work in process, May 31 (5,000 units, 1/5 complete) Total - Unit cost for month: Materials Labor Factory overhead Total $- Inventory costs: Costs of goods finished and transferred to Grinding during month Cost of goods finished and on hand Cost of work in process, May 31: Materials Labor Factory overhead Total production costs accounted for $- Harmon Corporation Cost of Production Summary -- Grinding For the Month Ended May 31, 20xx Cost of work in process, May 1: Cost in Cutting Cost in Grinding: Materials Labor Factory overhead - Cost of goods received from Cutting during month Cost of production in Grinding for month: Materials Labor Factory overhead Total costs to be accounted for $- $- Unit output for month: Finished and transferred to finished goods Equivalent units of work in process, May 31 Total equivalent production Unit cost for month: Cost for Cutting: Beginning inventory Transferred in this month Average cost per unit - Units - Total Cost $- Cost in Grinding: Materials Labor Factory overhead Total Unit Cost #DIV/0! $- Inventory costs: Costs of goods finished and transferred: Cost in Cutting Cost in Grinding $Cost of work in process, May 31 Cost in Cutting Cost in Grinding: Materials Labor Factory overhead Total production costs accounted for - $