Question: Production Report Cutting Grinding Units in process, May 1 ............................ 10,000 Started during the month .......................... 20,000 Received from prior department .................... 15,000 Finished and

Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cProduction Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.vost of production summary for each department.Production Report Cutting Grinding

Units in process, May 1 ............................ 10,000

Started during the month .......................... 20,000

Received from prior department .................... 15,000

Finished and transferred ........................... 10,000

Finished and on hand .............................. 5,000

Units in process, May 31 ........................... 15,000

Stage of completion ............................... 1/3

Production Costs Work in process, May 1:

Costs in Cutting: ................................. $50,000

Materials ...................................... $5,000

Labor ......................................... 6,450

Factory overhead .............................. 3,550

Production Costs Cost in Grinding:

Materials ...................................... 5,000

Labor ......................................... 5,500

Factory overhead .............................. 3,500

Costs incurred during the month:

Materials ...................................... 40,000

Labor ......................................... 44,000

Factory overhead .............................. 37,000

Total .............................................. $185,000

Required: Prepare a cost of production summary for each department.

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