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$45,045Beginning work in process21,000units,10%completeCosts transferred in189,000Units transferred out75,600Materials79,800Units transferred in89,600Labor49,140Ending work in process35,000units,20%completeOverhead95,760

production cost report for the Welding Department for the month of February. Transferred-in costs are considered materials costs.

MAJESTIC 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 forWork in process, February 1

Started into production

Total units

Units accounted forCompleted and transferred outWork in process, February 1

Started and completed

Total

Work in process, February 28

Total units

Costs

Materials

Conversion

Costs

Total

Unit costsCosts in February$

$

$

Equivalent units

Unit costs$

$

$

Costs to be accounted forWork in process, February 1$

Started into production

Total costs$

Cost Reconciliation ScheduleCosts accounted forTransferred outWork in process, February 1$

Costs to complete beginning work in processConversion costs

Total costs$

Units started and completed

Total costs transferred out$

Work in process, February 28Materials

Conversion costs

Total costs$