Question
Exercise 16-13 The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2017. All materials are added at the
Exercise 16-13
The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2017. All materials are added at the beginning of the process.
Manufacturing Costs | Production Data | ||||||||
Beginning work in process | Beginning work in process | 14,500 | units, 1/10 complete | ||||||
Materials | $17,500 | Units transferred out | 55,000 | ||||||
Conversion costs | 14,560 | $32,060 | Units started | 50,700 | |||||
Materials | 192,444 | Ending work in process | 10,200 | units, 1/5 complete | |||||
Labor | 67,000 | ||||||||
Overhead | 67,885 |
Prepare a production cost report for the Welding Department for the month of February. (Round unit costs to 2 decimal places, e.g. 2.25 and all other answers to 0 decimal places, e.g. 1,225.)
HEALTHY MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended February 28, 2017 | ||||||||
Equivalent Units | ||||||||
Quantities | Physical Units | Materials | Conversion Costs | |||||
Units to be accounted for | ||||||||
Work in process, February 1 | ||||||||
Started into production | ||||||||
Total units | ||||||||
Units accounted for | ||||||||
Transferred out | ||||||||
Work in process, February 28 | ||||||||
Total units | ||||||||
Costs | Materials | Conversion Costs | Total | |||||
Unit costs | ||||||||
Total Costs | $ | $ | $ | |||||
Equivalent units | ||||||||
Unit costs | $ | $ | $ | |||||
Costs to be accounted for | ||||||||
Work in process, February 1 | $ | |||||||
Started into production | ||||||||
Total costs | $ | |||||||
Cost Reconciliation Schedule | ||||||||
Costs accounted for | ||||||||
Transferred out | $ | |||||||
Work in process, February 28 | ||||||||
Materials | $ | |||||||
Conversion costs | ||||||||
Total costs | $ |
Click if you would like to Show Work for this question: | Open Show Work |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started