Question

CALCULATOR FULL SCREEN PRINTER VERSION 4K NERTI Exercise 3-7 (Video) The Sanding Department of Qulik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation Production: 7,280 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 $34,438; labor $20,600; overhead $39,682 Prepare a production cost report. (Round unit costs to 2 decimal places, ... 2.25 and other answers to decimal places, o g. 125.) QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2030 Equivalent Units Physical Conversion Quantities Units Materials Costs Units to be accounted for Work in process, March 1 Started into production Total units Units accounted for Transferred out Work in process, March 31 Ver. 4 24.01

Answer 1

Solution Quick Funiture Company Sanding Department Production Cost Report For the Moth Ended March 31 2020 Quantity Equivalent Units Material Conversion Cost Physical Unit Units to be accounted for Work in Progress March 1 Started into Prodution Total Units Units Accounted For Transferred out Work in Progress March 31 Total Units 7,280.00 3,000.00 10,280.00 7,280.00 3,000.00 10,280.00 7,280.00 600.00 7,880.00 Material Conversion Cost Total Cost Unit Cost Total Cost Equivalent Units Unit Cost 94,720.00 34,438.00 10,280.00 3.35 60,282.00 7,880.00 7.65 11.00 Cost to be accounted for Work in progress March 1 Started production Total Cost 11.00 (7280*3.35)+(7280*7.65) 80,080.00 Cost reconsiliation Schedule Cost Accounted for Transferred Out Work in Progress March 31 Material Coversiaon Cost Total Cost (3000*3.35) (600*7.65) 10,050.00 4,590.00 14,640.00 94,720.00