Marion Chemicals produces a chemical used as a base in paints. In the manufacturing process, all materials are added at the start of the process, whereas labor and overhead are added evenly throughout production.

Required

Fill in the missing information in Marion’s Production Cost Report for the month of December.

Marion Chemicals

Production Cost Report

December 2011

Unit Reconciliation

Units in beginning WIP (100% material, 10% conversion costs) ......8,000

Units started during December ................... ?

Units to account for ........................ ?

Units completed .......................... ?

Units in ending WIP (100% material, 20% conversion costs) .......4,000

Units accounted for ........................ ?

Transcribed Image Text:

Material Labor Overhead Total Cost $45,200 $10,500 $26,300 82,000 Beginning WIP Cost incurred in December Total Units Units completed Equivalent units, ending WIP Total Cost per equivalent unit Cost Reconciliation Total cost to account for Cost of completed items Cost of ending WIP $1.70 $1.32 $2.64 $2,896,56t8 2,886,600 Material Labor Overhead Total cost accounted for 2896568