managerial accounting p3 7 425935

Aug 29, 2021 | Uncategorized

Problem P3 7 Production Cost Report, Missing Data
Classic 50s Flooring produces linoleum flooring. Below is a partial production cost report for the Mixing Department. In the report, a unit is a gallon of linoleum cement (a mixture of linseed oil, pine resin, and wood flour).
Production Cost Report
Mixing Department
June
Quantity Reconciliation
Units in beginning WIP 400
Units started 2,100
Units to account for 2,500
Units completed 2,300
Units in ending WIP ( 100% material, 70% conv. costs) a
Units accounted for b
Cost Per Equivalent Unit Calculation
Cost Material Labor Overhead Total
Beginning WIP $475 $1,200 $2,400 $4,075
Cost incurred during June 4,125 11,610 23,830 39,565
Total $4,600 $12,810 $26,230 $43,640
Units
Units completed 2,300 2,300 2,300
Equivalent units, ending WIP c d e
Total f g h
Cost per equivalent unit i j k l
Required:
Fill in the missing data (items a through l).