Cost of production report
| Order ID |
53563633773 |
| Type |
Essay |
| Writer Level |
Masters |
| Style |
APA |
| Sources/References |
4 |
| Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Cost of production report
A cost of production report (CPR) is a document that summarizes the costs incurred in producing a product or service. It is used to track the costs of each unit produced, and to identify areas where costs can be reduced.
The CPR typically includes the following information:
Quantity schedule: This shows the number of units started, completed, and in ending work-in-process inventory.
Cost of direct materials: This includes the cost of all materials that are used in the production process.
Cost of direct labor: This includes the cost of all labor that is directly involved in the production process.
Cost of overhead: This includes all other costs that are incurred in the production process, such as rent, utilities, and depreciation.
Unit costs: This shows the cost per unit of direct materials, direct labor, and overhead.
Cost of goods transferred out: This shows the cost of the units that were completed and transferred out of the department during the period.
Cost of ending work-in-process inventory: This shows the cost of the units that were not completed at the end of the period.
The CPR is a valuable tool for managers in a variety of industries. It can be used to:
Track the costs of production over time.
Identify areas where costs can be reduced.
Set prices for products or services.
Make decisions about production capacity.
Compare the costs of different products or services.
The CPR is typically prepared on a monthly or quarterly basis. However, it may be prepared more frequently in industries where costs are volatile.
The following is an example of a cost of production report:
Quantity Schedule
Units started: 10,000
Units completed: 8,000
Ending work-in-process inventory: 2,000
Cost of Direct Materials
Beginning inventory: $10,000
Purchases: $50,000
Total direct materials: $60,000
Cost of Direct Labor
Direct labor hours: 10,000
Direct labor rate: $10/hour
Total direct labor: $100,000
Cost of Overhead
Variable overhead: $20,000
Fixed overhead: $40,000
Total overhead: $60,000
Unit Costs
Direct materials: $6/unit
Direct labor: $10/unit
Overhead: $6/unit
Total cost per unit: $22/unit
Cost of Goods Transferred Out
Units transferred out: 8,000
Cost per unit: $22/unit
Total cost of goods transferred out: $176,000
Cost of Ending Work-in-Process Inventory
Units in ending work-in-process inventory: 2,000
Cost per unit: $22/unit
Total cost of ending work-in-process inventory: $44,000
The CPR is a valuable tool for managers in a variety of industries. It can be used to track the costs of production over time, identify areas where costs can be reduced, set prices for products or services, and make decisions about production capacity.
Cost of production report
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RUBRIC
| QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
| Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
| Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
| Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
| Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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