Question
The Sanding Department of Quik 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 Quik 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.)
QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2020 | ||||||||
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Equivalent Units | ||||||||
Quantities | Physical Units | Materials | Conversion Costs | |||||
Units to be accounted for | ||||||||
Work in process, March 1 | enter a number of units | |||||||
Started into production | enter a number of units | |||||||
Total units | enter a total number of units | |||||||
Units accounted for | ||||||||
Transferred out | enter a number of units | enter a number of units | enter a number of units | |||||
Work in process, March 31 | enter a number of units | enter a number of units | enter a number of units | |||||
Total units | enter a total number of units | enter a total number of units | enter a total number of units | |||||
Costs | Materials | Conversion Costs | Total | |||||
Unit costs | ||||||||
Total Costs | $enter a dollar amount | $enter a dollar amount | $enter a total of the two previous amounts | |||||
Equivalent units | enter a number of units | enter a number of units | ||||||
Unit costs | $enter a dollar amount rounded to 2 decimal places | $enter a dollar amount rounded to 2 decimal places | $enter a total of the two previous amounts rounded to 2 decimal places | |||||
Costs to be accounted for | ||||||||
Work in process, March 1 | $enter a total amount | |||||||
Started into production | enter a total amount | |||||||
Total costs | $enter a total of the two previous amounts | |||||||
Cost Reconciliation Schedule | ||||||||
Costs accounted for | ||||||||
Transferred out | $enter a total amount | |||||||
Work in process, March 31 | ||||||||
Materials | $enter a dollar amount | |||||||
Conversion costs | enter a dollar amount | enter a subtotal of the two previous amounts | ||||||
Total costs | $enter a total amount for this Cost Reconciliation Schedule |
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