The Welding Department of Majestic Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Majestic uses the FIFO method to compute equivalent units. Production Data Manufacturing Costs Beginning work in process $51,480 Costs transferred in 216,000 Materials 91,200 Labor 56,160 Overhead 109,440 Beginning work in process Units transferred out Units transferred in Ending work in process 24,000 units, 10% complete 86,400 102,400 40,000 units, 20% complete 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 and other answers to O decimal places, e.g. 125.) MAJESTIC MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended February 28, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities 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 1 Started and completed Total Work in process, February 28 Total units Conversion Costs Costs Materials Total 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 1 Costs to complete beginning work in work in process Conversion costs Total costs A Units started and completed Total costs transferred out Work in $ process, February 28 Materials Conversion costs Total costs $