Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Sanding Department of Cullumber Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 8,960

The Sanding Department of Cullumber Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 8,960 units completed and transferred out: 3,840 units in ending work in process are 100% complete as to materials and 20% complete as to conversion costs. Manufacturing costs: Materials $42,240; labor $26,880; and ovelhead $46,080. Prepare a production cost report. (Round unit costs to 2 decimal places, eg. 2.25 and other answers to 0 decimal places, e.g. 125.) CULLUMBER FURNITURE COMPANY Sanding Department Production Cost Report Equivalent Units CULLUMBER FURNITURE COMPANY Sanding Department Production Cost Report Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process, March 1 Started into production. Total units Work in process, March 1 Started into production Total units Units accounted for Completed and Transferred out Work in process, March 31 Total units Total units Costs Unit costs Total Costs Equivalent units Unit costs Reconciliation Schedule Materials Conversion Costs I $ $ Materials Conversion Costs I Total Cost Reconciliation Schedule Costs to be accounted for i Work in process. March 1 Started into production Total costs Costs accounted for Completed and transferred out Work in process, March 31 $ Total costs Costs accounted for Completed and 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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cima Learning System Management Accounting Performance Evaluation Edition

Authors: Robert Scarlett

4th Edition

0750684305, 978-0750684309

More Books

Students also viewed these Accounting questions

Question

2. How will the team select a leader?

Answered: 1 week ago