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    Production Cost Report,Missing Information

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    Marion Chemicals
    produces a chemical used as a base in paints.In the manufacturing process, all materials are added
    at the start of the process,whereas labor and overhead are added evenly throughout production.

    Required
    Fill in the missing information in Marion's Production Cost Report for the month of December

    Marion Chemicals

    Production Cost Report

    December 2011

    Unit Reconciliation
    Units in beginning WIP (100% material, 10% conversion costs) 8,000
    Units started during December ?
    Units to account for ?
    Units completed ?
    Units in ending WIP (100% material, 20% conversion costs) 4,000
    Units accounted for ?

    Cost per Equivalent Unit Calculation

    Material Labor Overhead Total
    Cost
    Beginning WIP $45,200 $10,500 $26,300 $ 82,000
    Cost incurred in December ? ? ? ?
    Total ? ? ? ?
    Units
    Units completed ? ? ?
    Equivalent units, ending WIP ? ? ?
    Total ? ? ?
    Cost per equivalent unit $1.70 $1.32 $2.64 ?
    Cost Reconciliation
    Total cost to account for $2,896,568
    Cost of completed items $2,886,600
    Cost of ending WIP
    Material $?
    Labor ?
    Overhead ? ?
    Total cost accounted for $2,896,568

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    https://brainmass.com/business/finance/production-cost-report-missing-information-360412

    Solution Summary

    The solution explains how to determine the missing information in a production cost report

    $2.19

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