Cost of Production Report: No Beginning Inventories Atlanta Paper Company produces newsprint paper through a special recycling process using scrap paper products. Production and cost data for October 2017, the first month of operations for the company's new Brunswick plant, follow: Units of product started in process during October 80,000 tons Units completed and transferred to finished goods 75,000 tons Machine hours operated 7,000 Direct materials costs incurred $ 486,000 Direct labor costs incurred $ 190,800Raw materials are added at the beginning of the process for each unit of product produced, and labor and manufacturing overhead are added evenly throughout the manufacturing process. Manufacturing overhead is applied to Work-in-Process at the rate of $24 per machine hour. Units in process at the end of the period were 65 percent converted. Prepare a cost of production report for Oregon Paper Company for October. (Round answers to the nearest whole number unless otherwise noted.)Oregon Paper CompanyCost of Production ReportFor the Month Ending October 31, 2009Summary of units in process (tons): Beginning Answer Units started Answer In process Answer Completed (Enter as a negative number.)Answer Ending Answer Equivalent units in process: Materials Conversion TotalUnits completed Answer Answer Plus equivalent units in ending inventory Answer Answer Equivalent units in process Answer Answer Total cost to be accounted for andcost per equivalent unit in process: Beginning work-in-process $Answer $Answer $AnswerCurrent costs Answer Answer AnswerTotal cost in process $Answer $Answer $AnswerEquivalent units in process

Atlanta Paper Company

Atlanta Paper Company

Cost of Production Report

For the Month Ending October 31, 2009

a. Summary of units in process (tons):

Beginning  0

Units started 80,000

In process     80,000

Completed  (75,000)

Ending            5,000

b. Equivalent units in process:    Materials    Conversion  Total

Units completed                        75,000        75,000

Plus ending inventory                 5,000          3,250

Equivalent units in process      80,000        78,250

c. Total cost to be accounted for and cost per equivalent unit in process:

                                                Materials    Conversion         Total

Beginning work-in-process               $0                $0                 $0

Current costs                         $486,000    $358,800     $844,800

Total cost in process             $486,000    $358,800     $844,800

Equivalent units in process       80,000        78,250

Cost per equivalent unit           $6.075        $4.585

d. Cost accounted for:

                                                Materials    Conversion         Total

Units completed                    $455,625      $343,875    $799,500

Ending work in process             30,375           14,901          45,276

Total costs accounted for     $486,000     $358,776     $844,776

Explanation:

a) Data and Calculations:

Units of product started in process during October 80,000 tons

Units completed and transferred to finished goods 75,000 tons

Ending work in process inventory, October ending   5,000 tons (80,000  - 75,000)

Machine hours operated 7,000

Direct materials costs incurred $486,000

Direct labor costs incurred $190,800

Manufacturing overhead cost = $168,000 (7,000 * $24)

Total conversion costs = $358,800 ($190,800 + $168,000)

Ending work in process 65% converted.

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