Question
The welding department of Balogh Manufacturing Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning
The welding department of Balogh Manufacturing 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 | 16,000 units | |||||||
| Materials | $17,880 | 1/10 complete | |||||||
| Conversion costs | 14,380 | $32,260 | Units transferred out | 49,500 | |||||
| Materials | 168,740 | Units started | 44,200 | ||||||
| Labour | 52,080 | Ending work in process | 10,700 units | ||||||
| Overhead | 83,296 | 1/5 complete |
Prepare a production cost report for the welding department for the month of February. (Round unit costs to 2 decimal places, e.g. 15.25.)
| BALOGH MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended February 29, 2020 | |||||||||
| Equivalent Units | |||||||||
| Quantities | Physical Units | Materials | Conversion Costs | Total | |||||
| Units to be accounted for | |||||||||
| Work in process, February 1 | |||||||||
| Started into production | |||||||||
| Total units | |||||||||
| Units accounted for | |||||||||
| Transferred out | |||||||||
| Work in process, February 29 | |||||||||
| Total units | |||||||||
| Costs | |||||||||
| Unit costs | |||||||||
| Costs in February | $ | $ | $ | ||||||
| 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 29 | |||||||||
| Materials | $ | ||||||||
| Conversion costs | |||||||||
| Total costs | $ | ||||||||
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
