Question

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 decimal places, e.g. 125.) BONITA FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2020 Physical Conversion to be cured for Started to production Un accounted for Transferred out Work in March 31 Total units Total Costs Unca Cost Reconciliation Schedule Coro Transferred Wort , 31

Answer 1

Costs	Materials	Conversion costs	Total
Unit costs
Total costs	$          35,428	$                  60,150	$   95,578
Euivalent units	10420	8020
Unit costs	$               3.40	$                       7.50	$     10.90
Costs to be accounted for
Work in process , March 1	0
Started into production	$          95,578
Total Costs	$          95,578

Cost reconcilation schedule
Costs accounted for
Transferred out		$          80,878.00
Work in process, March 31
Materials	$           10,200.00
Conversion costs	$             4,500.00	$          14,700.00
Total Costs		$          95,578.00
Working:
Cost reconcilation schedule
	Equivalent Units	Unit cost	Total Costs
Costs accounted for
Transferred out	7420	$                  10.90	$           80,878.00
Work in process, March 31
Materials	3000	$                     3.40	$           10,200.00
Conversion costs	600	$                     7.50	$             4,500.00