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Vilka [71]
3 years ago
7

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

rst month of operation. Production: 6,240 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 $36,960; labor $21,400; overhead $30,242.Required:Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.)
Business
1 answer:
Dimas [21]3 years ago
5 0

Answer:

                                Quik Furniture Company

              Production cost report - Sanding department

                         Month ended on March 31, 2020

Units                           Physical units                   Equivalent units

                                                                Materials                 Conversion          

Units started                    9,240

<u>in production                                                                                              </u>

Completed and               6,240

transferred out

<u>Work in progress                                       3,000                          600      </u>

Total units                       6,240                 3,000                          600

accounted for

Costs                                          Direct               Conversion       Total

                                                   materials          costs

Beginning WIP                              $0                     $0                     $0

Costs added during                  $36,960           $51,642            $88,602

<u>period                                                                                                           </u>

Total costs                                 $36,960           $51,642            $88,602  

Cost per unit                                  $4                  $7.55                 $11.55

                                                  (9,240 u.)         (6,840 u.)       (finished u.)

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