Question
The Sanding Department of Coronado Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 6,260
The Sanding Department of Coronado Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 6,260 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 $35,188; labor $21,500; overhead $35,438. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to 0 decimal places, e.g. 125.)
CORONADO FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2020 | ||||||||
Equivalent Units | ||||||||
Quantities | Physical Units | Materials | Conversion Costs | |||||
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
$
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