The Welding Department of Majestic Company has the following production and manufacturing cost data for February 2017. All materials are added at the beginning of the process. Majestic uses the FIFO method to compute equivalent units.

Manufacturing Costs				Production Data
Beginning work in process		$32,175		Beginning work in process		15,000	units, 10% complete
Costs transferred in		135,000		Units transferred out		54,000
Materials		57,000		Units transferred in		64,000
Labor		35,100		Ending work in process		25,000	, 20% complete
Overhead		68,400

Prepare a production cost report for the Welding Department for the month of February. Transferred-in costs are considered materials costs. (Round unit costs to 2 decimal places, e.g. 2.25.)

MAJESTIC MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended February 28, 2017 Equivalent Units Physical Units Conversion Costs Quantities Materials Units to be accounted for Work in process, February 1 5000 4000 9000 Started into production Total units Units accounted for Completed and transferred out Work in process, February 1 5000 9000 4000 5000 9000 3500 9000 2500 Started and completed 9000 9000 5000 4000 Total Work in process, February 28 Total units 7500 Conversion Costs Costs Materials Total Unit costs 3192000 103500 295500 1 Costs in February Equivalent units Unit costs 4000 7500 Costs to be accounted for Work in process, February 1 Started into production Total costs $32175 95500 $327675 Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, February 1 Costs to complete beginning work in process Conversion costs Total costs 94500 Units started and completed Total costs transferred out Work in process, February 28 126675 $243675 Materials 5000 Conversion costs 4000 Total costs $327675