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 $52,767 Costs transferred in 221400 Materials 93.480 Labor 57564 Overhead 112.176 Production Data Beginning work in process 24 600 units 10% complete Units transferred out 38 560 Units transferred in 104.960 Ending work in process 41.000 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 ploces es 225 and other answers to decimal places. 8 125) 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 Workin 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 Materials Total Costs 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 process Conversion costs $ Total costs Units started and completed Total costs transferred out $ 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 process Conversion costs $ Total costs Units started and completed Total costs transferred out Work in process February 28 Materials Conversion costs S Total costs