Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Sanding Department of Wildhorse Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 8,540

The Sanding Department of Wildhorse Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 8,540 units completed and transferred out; 3,660 units in ending work in process are 100% complete as to materials and 20% complete as to conversion costs. Manufacturing costs: Materials $ 42,700; labor $ 25,620; and overhead $ 43,920. 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.)

WILDHORSE FURNITURE COMPANY Sanding Department Production Cost Report choose the accounting period March 31, 2022For the Year Ended March 31, 2022For the Month Ended March 31, 2022

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

Completed and 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 dollar amount

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 dollar amount rounded to 2 decimal places

Cost Reconciliation Schedule

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 amount

Costs accounted for

Completed and transferred out

$ enter a dollar 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fair Value Measurement Practical Guidance And Implementation

Authors: Mark L. Zyla

3rd Edition

1119191238, 9781119191230

More Books

Students also viewed these Accounting questions