The Muller Company reports the following physical units for its Polishing Department for the month ended July 31, 2014.
|
Units to be accounted for |
Physical Units |
|
Work in process. Jury • |
1,000 |
|
Transferred in |
11 .000 |
|
Total units |
12.000 |
|
Units accounted for |
|
|
Completed and transferred out |
10:500 |
|
Work in process, July 31 (301–i complete) |
.1.500 |
|
Total units accounted for |
12.000 |
Work in process July 1 was $3,000 for direct materials and $1,920 for conversion costs. Costs incurred in July were: materials $59,400, labor $23,520, and overhead $9,600. The percentage complete refers to conversion costs. Materials and transferred in units are added at the beginning of the process.
Instructions
Prepare the production cost report.