Question

The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation Production: 6,810 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 $32,079; labor $20,600; overhead $35,271.

Answer 1

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

Answer QUIK Furniture Company Sandling Department Production Cost Report For the Month ended March 31, 2017 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in Process March 1 Started into production (6810+3000) 9810 Total Units 9810 -Units accounted for - Transferred out Work in process march 31 6810 6810 (6810*100%) (6810*100%) 3000 3000 600 (3000*100%) (3000*20%) 9810 9810 7410 Total Units

Materials 87950 Costs Total Costs Equivalent units Unit costs Conversion Costs Total 32079 55871 98100 7410 3.27 7.54 10.81 87950 87950 Costs accounted for Work in process March 1 Started into production (32079+20600+35271) Total costs Cost Reconciliation Schduele Cost accounted for Transferred out (6810*10.81) Work In Process March 31 Material (3000*3.27) Conversion Cost (600*7.54) Total Costs 73616 9810 4524 14334 87950 For any help please comment in the comment box Thank You