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Cost of Production Report: No Beginning Inventories Port Townsend Paper (PTPC) produces paper by blending recycled corrugated cardboard with other fibers. Assume the following represent production and cost data for October. There was no inventory on hand on October 1.

Units of product started in process during October	20,000	tons
Units completed and transferred to finished goods	19,000	tons
Machine hours operated	3,410
Direct materials costs incurred	$ 134,000
Direct labor costs incurred	$ 185,000

Raw materials are added at the beginning of the process for each unit of product produced, and labor and manufacturing overhead are added evenly throughout the manufacturing process. Manufacturing overhead is applied to Work-in-Process at the rate of $50 per machine hour. Units in process at the end of the period were 75% converted.

Prepare a cost of production report for PTPC for October.

• Round answers to the nearest whole number unless otherwise noted.

• Do not use negative signs with any of your answers.

PORT TOWNSEND PAPER
Cost of Production Report
For the Month Ending October 31
Summary of units in process (tons):
Beginning	Answer
Units started	Answer
In process	Answer
Completed	Answer
Ending	Answer
Equivalent units in process:		Materials	Conversion	Total
Units completed		Answer	Answer
Plus equivalent units in ending inventory		Answer	Answer
Equivalent units in process		Answer	Answer
Total cost to be accounted for and cost per equivalent unit in process:
Beginning work-in-process		Answer	Answer	Answer
Current costs		Answer	Answer	Answer
Total cost in process		Answer	Answer	Answer
Equivalent units in process		Answer	Answer
Cost per equivalent unit in process (Do not round answers.)		Answer	Answer	Answer
Accounting for total costs:
Transferred out				Answer
Ending work-in-process:
Materials			Answer
Conversion			Answer	Answer
Total cost accounted for				Answer

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