Question

need help with this chart please

The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation Production: 7,140 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 $35,490; labor $20,700, overhead $42.768. Prepare a production cost report. (Round unlt costs to 2 decimal places, es2.25 and other answers to decimal places, es. 125.) QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Work in process, March 1 Started into production Total units Units accounted for Transferred out Werlin

Answer 1

QUIK FURNITURE COMPANY Sandling Department Production Cost Budget for the month Ended March 31, 2020 Physical Equivalent units Units Malenials Convension cost Quantities Units to be accounted for Work in Process March 1 O Started in to Production 10140 To teel Units 10140 Units accounted for Transferred 7140 7140 out Het 7-140 Work in Process, Mouch 31 3000 3000 Lt 600 Total Units 10140 10140 7740

QUIK FURNITURE COMPANY SANDEWG Debautment Production Cost report for the month Ended March 31,2020 Materials Conversion Costs Total Costs Unit Costs Total Costs $35490 $63468 $98958 Equivalent Units 10140 7740 Units Costs $3.50 $ 8.20 $11.70 Costs to be accounted for Work in Process, Marchi $ 0 Started in to Pecoduction $ 98958 Totel Costs $ 98958

Cost Reconciliation Schedule Costs accounted for Trans ferred out $ 83538 Work in process, Mauch 31 Materials $10500 Conveusion cost $ 4920 $15420 Total Cost $ 98958

( Working Note: To Hell Units = Worle in Pecocess, March 31 + Units Transferred Out d. 3000 + 7140 = 10140 Units 2. Inork in process, Mauch 31: Units Peu per centage completed Equivalent Units 3000 Materials 3000 Convension 1000 20:14 600 3000 Conversion Units I Cost = monade no ads tabor & Overhead Convension Cost $ 20700 + $ 42.768 = $63468. 1 3. Units costs : Unit Costs To teel Cost Equivalent Number of Units Materials Convension Cost $ 35 490 $63468 Cost 10140 7740 Equivalent Unit 63468 7740 3 sugo 10140 Unit lost Unit lost $ $ 3.50 $ 8.20 , 4. Cost Accounted for : Trans ferred out = Number of Unit x Unit Cost 7140 x $11.70 $ 85358 Work in Process, Mateutals & Convension Cost March 31 - 13000 x $3.5) + (600x $ 8.20 ) $10500 + $ 4920 = $ 15420