Exercise 17-7 The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation. Production: 7,020 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 $37,675; labor $21,400; overhead $38,569. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.) QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2017 Quantities Units to be accounted for Work in pos March 1 Physical Units Equivalent Units Materials Conversion Costs

Exercise 17-7 The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation. Production: 7,020 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 $37,675; labor $21,400; overhead $38,569. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.) QUIK FURNITURE COMPANY Sanding Department Production Cost Report For the Month Ended March 31, 2017 Quantities Units to be accounted for Work in pos March 1 Physical Units Equivalent Units Materials Conversion Costs

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Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 12E

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