Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Welding Department of Pharoah Company has the following production and manufacturing cost data for February 2022 . All materials are added at the beginning

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The Welding Department of Pharoah Company has the following production and manufacturing cost data for February 2022 . All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process, Pharoah uses the FIFO method to compute equivalent units of production. Beginning work in process and ending work in process were 10% and 20% complete with respect to conversion costs, respectively. Prepare a production cost report for the Welding Department for February 2022. (Round unit costs to 2 decimal places, eg. 2.25 and other answers to O decimal ploces, e8. 125) PHAROAH COMPANY Welding Department Production Cost Report Equivalent Units Quantities Physical Conversion Units ta be arcounted for Work in pecoces, February 1 . 5 started into production Total unds Units accountedfor Completed and tranferted out Work in process. February 1 Started and completed Total Work in proces, Froruary 28 Total units Costs Materials: Comvertion Unicherts Cots in February Eeyinalent irits Unit costs Cosstatisicresmedtos Work in proctss, Fithusind Statedinto prodiction Totalcosts CortReconciliationschedule Cemtsaccounted tor Transterred out Workin brecess. February 1 Costs to compiete bepining wock in process Comerivon oosts Totalcoits Uninstarted and completed Tol Mcouts completed and trantered out Work inprocesh Felruary 2 at Materals Convenion costs Totalcoits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions