Question
The Landing Department of Gross Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 7,360
The Landing Department of Gross Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 7,360 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 $39,368; labor $20,700; overhead $42,980. Prepare a production cost report.
Gross Furniture Company Landing Department Production Cost Report For the Month Ended March 31, 2020
Equivalent Units
Quantities Physical Units Materials ConversionCosts
Units to be accounted for
Work in process, March 1
Started into production
Total units
Units accounted for
Transferred out
Work in process, March 31
Total units
Costs Materials Conversion Costs Total
Unit costs
Total Costs
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Principles of Accounting
Authors: Needles, Powers, crosson
11th Edition
1439037744, 978-1133626985, 978-1439037744
