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The Welding Department of Majestic Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning
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 Production Data Beginning work in process $36,036 Beginning work in process 16,800 units, 10% complete Costs transferred in 151,200 Units transferred out 60,480 Materials 63,840 Units transferred in 71,680 Labor 39,312 Ending work in process 28,000 units, 20% complete Overhead 76,608 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.)
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