Harmon Corporation uses a process cost system. The records for the month of May show the following…

Cost of production summary, two departments; beginning inventory.

Harmon Corporation uses a process cost system. The records for the month of May show the following information:

Production Report	Cutting	Grinding
Units in process, May 1	5,000	10,000
Started during the month	20,000	–
Received from prior department	–	15,000
Finished and transferred	15,000	10,000
Finished and on hand	5,000	–
Units in process, May 31	5,000	15,000
Stage of completion	1/5	1/3
Production Costs
Work in process, May 1:
Costs in Cutting		50,000
Materials	5,000
Labor	6,450
Factory overhead	3,550
Costs in Grinding
Materials		5,000
Labor		5,500
Factory overhead		3,500
Costs incurred during the month
Materials	37,000	40,000
Labor	45,000	44,000
Factory overhead	50,000	37,000
Total	147,000	185,000

Required:

Prepare a cost of production summary for each department.

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