E3.7 (LO 3, 4), AP The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 7,000 units completed and transferred out; 3,000 units in ending work in process are 100% complete as to materials and 20% complete as to conversion costs. Manufacturing costs: Materials $33,000; labor $21,000; and overhead $36,000. Instructions Prepare a production cost report. Determine equivalent units unit costs and assignment of costs

E3.7 (LO 3, 4), AP The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 7,000 units completed and transferred out; 3,000 units in ending work in process are 100% complete as to materials and 20% complete as to conversion costs. Manufacturing costs: Materials $33,000; labor $21,000; and overhead $36,000. Instructions Prepare a production cost report. Determine equivalent units unit costs and assignment of costs

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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