The Sanding Department of Quik Furniture Company has the
following production and manufacturing cost data for March 2020,
the first month of operation.
Production: 6,260 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 $35,188; labor $21,500;
overhead $35,438.
Prepare a production cost report. (Round unit costs to
2 decimal places, e.g. 2.25 and other answers to 0 decimal places,
e.g. 125.)
QUIK FURNITURE COMPANY |
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Equivalent Units |
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Quantities |
Physical |
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Conversion |
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Units to be accounted for |
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Work in process, March 1 |
enter a number of units |
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Started into production |
enter a number of units | |||||||
Total units |
enter a total number of units | |||||||
Units accounted for |
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Transferred out |
enter a number of units |
enter a number of units |
enter a number of units |
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Work in process, March 31 |
enter a number of units | enter a number of units | enter a number of units | |||||
Total units |
enter a total number of units | enter a total number of units | enter a total number of units | |||||
Costs |
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Conversion |
|
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Unit costs |
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Total Costs |
$enter a dollar amount |
$enter a dollar amount |
$enter a total of the two previous amounts |
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Equivalent units |
enter a number of units | enter a number of units | ||||||
Unit costs |
$enter a dollar amount rounded to 2 decimal places |
$enter a dollar amount rounded to 2 decimal places |
$enter a total of the two previous amounts rounded to 2 decimal places |
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Costs to be accounted for |
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Work in process, March 1 |
$enter a total amount |
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Started into production |
enter a total amount | |||||||
Total costs |
$enter a total of the two previous amounts |
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Cost Reconciliation Schedule |
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Costs accounted for |
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Transferred out |
$enter a total amount |
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Work in process, March 31 |
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Materials |
$enter a dollar amount |
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Conversion costs |
enter a dollar amount | enter a subtotal of the two previous amounts | ||||||
Total costs |
$enter a total amount for this Cost Reconciliation Schedule |
Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to 0 decimal places, e.g. 125.)
QUIK FURNITURE COMPANY |
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Equivalent Units |
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Quantities |
Physical |
|
Conversion |
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Units to be accounted for |
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Work in process, March 1 |
0 | |||||||
Started into production |
9260 | |||||||
Total units |
9260 | |||||||
Units accounted for |
||||||||
Transferred out |
6260 | 6260 | 6260 | |||||
Work in process, March 31 |
3000 | 3000 | 3000*20% = 600 | |||||
Total units |
9260 | 9260 | 6860 | |||||
Costs |
|
Conversion |
|
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Unit costs |
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Total Costs |
35188 | 56938 | 92126 | |||||
Equivalent units |
9260 | 6860 | ||||||
Unit costs |
3.80 | 8.30 | 12.10 | |||||
Costs to be accounted for |
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Work in process, March 1 |
0 | |||||||
Started into production |
92126 | |||||||
Total costs |
92126 | |||||||
Cost Reconciliation Schedule |
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Costs accounted for |
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Transferred out |
75746 |
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Work in process, March 31 |
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Materials |
11400 | |||||||
Conversion costs |
4980 | 16380 | ||||||
Total costs |
92126 |
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for...
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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,...
Please explain answer thank
you!
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 7,060 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 $39,234; labor $21,100; overhead $40,180. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to o decimal...
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