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Eugene Products Co. produces a latex paint

Price: $3.50


P5-1 Eugene Products Co. produces a latex paint and uses the process cost system. Materials, labor, and overhead are added evenly throughout the process. The following information was obtained from the company's accounts at the end of February.
Production Costs
Costs Incurred during month:
Materials 30,000
Labor 20,000
Factory overhead 40,000
90,000
Production Report Units
Finished and transferred to stockroom during month 56,000
Work in process, end of period, one-fourth completed 16,000

Required:
Prepare a cost of production summary for February. (round unit costs to the three decimal places.)

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