I need help setting up This production cost report. I am attaching a file of wha

Question

I need help setting up This production cost report. I am attaching a file of what the answer sheet looks like, and I am also copy and pasting the question to this message. I understand what to do on a smaller scale, but this question added much more work than what our class has been doing so I am some what confused. Here is the question:

Sanderson Company has the following production data for March: no beginning work in process, units started and completed 29,240, and ending work in process 5,950 units that are 100% complete for materials and 40% complete for conversion costs. Sanderson uses the FIFO method to compute equivalent units. If unit materials cost is $6 and unit conversion cost is $12, prepare the cost section of the production cost report for Sanderson Company.

Brief Exercise 17-11 Sanderson Company has the following production data for March: no beginning work in process, units started and completed 29,240, and ending work in process 5,950 units that are 100% complete for materials and 40% complete for conversion costs. Sanderson uses the FIFO method to compute equivalent units. If unit materials cost is $6 and unit conversion cost is $12, prepare the cost section of the production cost report for Sanderson Company SANDERSON COMPANY (Partial) Production Cost Report For the Month Ended March 31 COSTS Conversion Costs Materials Total Unit costs Total costs Equivalent units Unit costs 29,240 Costs to be accounted for In process, March 1 Costs in March Total costs Costs accounted for Transferred out In process, March 1 Started and completed In process, March 31 Materials Conversion costs Total costs Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER onyriaht 2000-2016 hy 1nhn Wiley & Sons Inc or related comnanies Al riahts reserved

Explanation / Answer

Material Conversion cost Total Unit costs Total cost 211140 379440 590580 Units 35190 31620 66810 unit cost $6 $12 8.84 Cost to be accounted fro In process march 1 - nil - Cost in march 590580 Total cost 590580 Cost accounted for transferred outs In process march 1 - nil - Started and completed 526320 In process march 31 64260 Material 211140 onversion cost 379440 Total cost 590580

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