Question:
Production costs chargeable to the Finishing Department in June in Cascio Company are materials $16,000, labor $29,500, overhead $18,000. Equivalent units of production are materials 20,000 and conversion costs 19,000.
Compute the unit costs for materials and conversion costs.
Data for Cascio Company are given.
Production records indicate that 18,000 units were transferred out, and 2,000 units in ending work in process were 50% complete as to conversion cost and 100% complete as to materials.
Prepare a cost reconciliation schedule.