Principles of Cost Accounting: P5-1 Eugene Products Co. produces a latex paint

Principles of Cost Accounting 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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