Cost of production report

Bal 1900units 3/5 completed
Direct materials 22000units $77000
Direct labor $14200
Factory overhead $6880
Goods transferred 21800 units
Bal 2100 units 1/5 completed

What would you like us to do with these "facts"

How do you complete a cost production report

Detail each of the inputs and outputs and derive a product cost using equivalent units

I need an example I still don't understand.

Quote:

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Originally Posted by stammy07

I need an example I still dont understand.

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Well I not going to do your homework for you. It is simple enough, set out the data you have in columns in terms of equivalent units, total the input costs, derive a unit cost and detail the cost of units produced

This is the data, you will have to make certain assumptions such as LIFO

Bal 1900units 3/5 completed
Direct materials 22000units $77000
Direct labor $14200
Factory overhead $6880
Goods transferred 21800 units
Bal 2100 units 1/5 completed

Quote:

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Originally Posted by paraclete

well I not going to do your homework for you. It is simple enough, set out the data you have in columns in terms of equivalent units, total the input costs, derive a unit cost and detail the cost of units produced

This is the data, you will have to make certain assumptions such as LIFO

Bal 1900units 3/5 completed
direct materials 22000units $77000
direct labor $14200
factory overhead $6880
goods transferred 21800 units
bal 2100 units 1/5 completed

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Right so I did the whole units direct materials and conversion table and then I did the conversion and direct material cost per unit which materials I got 3.50 and conversion cost .95cents, hopefully are right my confusion is the table where cost is charged to production

It works like this 21080 equivalent units were produced at a cost of 98080 giving a unit cost of production of 4.65276 and the value of finished goods transferred was 101430

Unit cost of production? I'm sorry I know I sound stupid. I took this 1201 class and had a few problems here and there but nothing major but this chapter is killing me. I just need to understand how you got things and what goes where basically and if you use different numbers than my example so you don't feel like you are doing MY work that's fine. Thank you so much!

Start with what was produced

inputs 1900*3/5 = 1140

outputs 2100*1/5 =420
finished = 21800

therefore what was produced is 21080

total costs aren't known only the value of inputs 98080