Question
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 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 | 14,900 | units, 1/10 complete | ||||||
Materials | $17,500 | Units transferred out | 55,200 | ||||||
Conversion costs | 14,660 | $32,160 | Units started | 50,700 | |||||
Materials | 192,420 | Ending work in process | 10,400 | units, 1/5 complete | |||||
Labor | 67,300 | ||||||||
Overhead | 58,376 |
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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