Question

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Question 4 of 4 < > -/1 View Policies Current Attempt in Progress The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation Production: 6,480 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 $30,052; labor $20,600; overhead $36,536. Prepare a production cost report. (Round unit costs to 2 decimal places, eg. 2.25.) QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2017 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Work in process, March 1 Started into o 9480

Answer 1

Sanding Department
Production Cost Report
For the Month Ended March 31, 2017
		Equivalent Units
	Physical Units	Materials	Conversion Costs
Units to be accounted for
Work in process, March 1	0
Started into production	9480
Total units	9480
Units accounted for
Transferred out	6480	6480	6480
Work in process, March 31	3000	3000	600
Total units	9480	9480	7080
Costs		Materials	Conversion Costs	Total
Unit costs
Total costs		30052	57136	87188
Equivalent units		9480	7080
Unit costs		3.17	8.07	11.24
Costs to be accounted for
Work in process, March 1				0
Started into production				87188
Total costs				87188
Cost Reconciliation Schedule
Costs accounted for
Transferred out				72835	=6480*11.24
Work in process, March 31
Materials			9510		=3000*3.17
Conversion costs			4842	14352	=600*8.07
Total costs				87187
Note: Answer might vary +1 due to rounding off