The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation. Production: 6,050 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 $28,870; labor $21,300; overhead $34,094. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.)
Production cost is the total cost which is incurred in production during the process of manufacturing at different level of production process. production cost is included all the costs from the inception of the material in manufacturing process till the introduction of product in the market.
Answer and Explanation: 1
Total units March 1 =9810
Units accounted for
|WIP march 31||3000||3000||600|
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fromChapter 6 / Lesson 4
The production of a cost report aids in keeping a record of spending and materials that are utilized by a business. Learn more about what a production cost report is, how many units, counting units, and how to understand what was spent and if it was the company that spent it.