Question
Exercise 3-13 (Video) The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020. All materials are added at
Exercise 3-13 (Video)
The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process.
Manufacturing Costs | Production Data | ||||||||
Beginning work in process | Beginning work in process | 15,300 | units, 1/10 complete | ||||||
Materials | $18,000 | Units transferred out | 54,900 | ||||||
Conversion costs | 14,760 | $32,760 | Units started | 50,600 | |||||
Materials | 215,945 | Ending work in process | 11,000 | units, 1/5 complete | |||||
Labor | 67,500 | ||||||||
Overhead | 83,330 |
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, 2020 | ||||||||
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 | $ |
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