Problem
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation.
Production: 6,940 units finished and transferred out; 3,000 units started that are 100% complete as to materials and 20% complete as to conversion costs.
Manufacturing costs: Materials $38,965; labor $20,500; overhead $43,288.
Prepare a production cost report.