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3241004551 [841]
3 years ago
8

The Sanding Department of Bonita Furniture Company has the following production and manufacturing cost data for March 2020, the

first month of operation. Production: 7,420 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 $35,428; labor $21,000; overhead $39,150. 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.) BONITA FURNITURE COMPANY Sanding Department
Business
1 answer:
Alex_Xolod [135]3 years ago
7 0

Answer:

Explanation:

Production cost report is a detailed list of cost of production including the cost of raw material and operating cost

                                 <u>Production cost for Bonita for March 2020</u>

                                            Units             Materials          Conversion

                                                                                                 costs

Units transferred out     7420                 7420                     7420

Work in process              3000                3000     (3000*20%)600

Total units                        10,420             10,420                   8020

Cost                              Materials         Conversion        Total

Total cost                        35428               60150           95578

Equivalent units             10420                 8020

Cost/unit                           3.40                    7.50              10.90

Cost in the month           95578

Cost reconciliation

Cost allocated to transferred out = 10.9*7420 =80878

Work in process for the month

Materials = 3000*3.40= 10200

Conversion  600*7.50 = 4500

total                                   14700

Total cost for the month = 80878+14700= 95578

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