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).