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: 6,020
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 6,020 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 $29,315; labor $20,600; overhead $31,367. 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 | ||||||||
Equivalent Units | ||||||||
Quantities | Physical Units | Materials | Conversion Costs | |||||
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 | ||||||||
Costs | Materials | Conversion Costs | 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 | $ |
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