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Exercise 3-7 (Video) The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation

Accounting

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Exercise 3-7 (Video)

The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation.

Production: 6,000 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 $27,000; labor $20,500; overhead $29,000.

Prepare a production cost report.