Question
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation. Production: 7,140
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation. Production: 7,140 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 $35,490; labor $20,700; overhead $42,768. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.
Unit costs | ||||||||
---|---|---|---|---|---|---|---|---|
Total Costs | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | |||||
Equivalent units | enter the number of units | enter the number of units | ||||||
Unit costs | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | |||||
Costs to be accounted for | ||||||||
Work in process, March 1 | $enter a dollar amount | |||||||
Started into production | enter a dollar amount | |||||||
Total costs |
Costs accounted for
Transferred out
$enter a dollar amount
Work in process, March 31
Materials
$enter a dollar amount
Conversion costs
enter a dollar amountenter a subtotal of the two previous amounts
Total costs
$enter a total amount for this part of the report
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