Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please explain answer thank you! the sanding depa

Please explain answer thank you! The Sanding Department of Quik Furniture Company has the...

80.2K

Verified Solution

Question

Accounting

image

imagePlease 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 places, e.g. 125.) QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2020 Equivalent Units Physical Conversion Units Materials Costs Quantities Units to be accounted for Work in process, March 1 Started into production Total units Units accounted for Transferred out Work in process, March 31 Total units Costs Materials Conversion Costs Total Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, March 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, March 31 Materials Conversion costs Total costs

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students