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The Sanding Department of Ivanhoe Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 6,760
The Sanding Department of Ivanhoe Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 6,760 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 $29,768; labor $20,800; overhead $36,240. 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.) IVANHOE FURNITURE COMPANY Sanding Department Production Cost Report Equivalent Units Physical Units Conversion Costs Quantities Materials 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 Conversion Costs Costs Materials Tota Unit costs Total Costs $ $ $ Equivalent units Unit costs $ $ $ Costs to be accounted for 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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