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. Manufacturing Costs Beginning work in process $50,193 Costs transferred in 210,600 Materials 88.920 Labor 54,756 Overhead 106,704 Production Data Beginning work in process 23,400 units, 10% complete Units transferred out 84,240 Units transferred in 99,840 Ending work in process 39,000 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, eg. 2.25 and other answers to 0 decimal places, e.g. 125.) MAJESTIC MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended February 28, 2020 Equivalent Units Physical Conversion Quantities Units Materials Costs Units to be accounted for Work in process, 1 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 Work in process, February 28 Total units Conversion Costs Materials Total $ $ Costs Unit costs Costs in February Equivalent units Unit costs $ $ $ $ Costs to be accounted for Workin 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 process Conversion costs Total costs Units started and completed Total costs $ $ $ $ February 1 Costs to complete beginning work in process Conversion costs Total costs Units started and completed Total costs transferred out Work in process, February 28 Materials Conversion costs $ Total costs $