The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 7,060 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 $39,234; labor $21,100; overhead $40,180.

QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2020 Equivalent Units Physical Conversion Units Materials Costs Quantities 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 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 $