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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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