Problem:
The Muller Company reports the following physical units for its Polishing Department for the month ended July 31, 2013.
|
Units to be accounted for
|
Physical Units
|
|
Work in process, Jury 1
|
1,000
|
|
Transferred in
|
11,000
|
|
Total units
|
12,000
|
|
|
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Units accounted for
|
|
|
Completed and transferred out
|
10,500
|
|
Work in process, July 31 (30% complete)
|
1,500
|
|
Total units
|
12,000
|
Work in process July 1 was $3,000 for direct materials and $1,920 for conversion costs. Costs incurred in July were: materials $59,400, labor $23,520, and overhead $9,600. The percentage complete refers to conversion costs. Materials and transferred in units are added at the beginning of the process.
Instructions
Prepare the production cost report