Homework: Chapter 3

Question 8 of 9

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The Welding Department of Pharoah Company has the following production and manufacturing cost data for February 2022. 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
Materials		$17,500				Units completed and transferred out		54,500
Conversion costs		14,160		$31,660		Units started in production		50,800
Costs added during the month						Ending work in process		11,600
Direct materials				227,070
Direct labor				67,200
Manufacturing overhead				80,577
				$406,507

Beginning work in process and ending work in process were 10% and 20% complete with respect to conversion costs, respectively. 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.)

PHAROAH COMPANY Welding Department Production Cost Report For the Year Ended February 28 , 2022February 28 , 2022For the Month Ended February 28 , 2022
				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
Completed and 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
Work in process, February 28
Materials						$
Conversion costs
Total costs								$