Exercise 3-13 (Video)
The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process.
Manufacturing Costs |
Production Data |
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Beginning work in process | Beginning work in process | 15,300 | units, 1/10 complete | ||||||
Materials | $17,900 | Units transferred out | 54,800 | ||||||
Conversion costs | 14,860 | $32,760 | Units started | 51,100 | |||||
Materials | 201,220 | Ending work in process | 11,600 | units, 1/5 complete | |||||
Labor | 67,700 | ||||||||
Overhead | 91,656 |
Prepare a production cost report for the Welding Department for the
month of February. (Round unit costs to 2 decimal
places, e.g. 2.25 and all other answers to 0 decimal places, e.g.
1,225.)
HEALTHY MANUFACTURING COMPANY |
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Equivalent Units |
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Quantities |
Physical |
|
Conversion |
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Units to be accounted for |
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Work in process, February 1 |
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Started into production |
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Total units |
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Units accounted for |
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Transferred out |
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Work in process, February 28 |
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Total units |
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Costs |
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Conversion |
|
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Unit costs |
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Total Costs |
$ | $ | $ | |||||
Equivalent units |
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Unit costs |
$ | $ | $ | |||||
Costs to be accounted for |
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Work in process, February 1 |
$ | |||||||
Started into production |
||||||||
Total costs |
$ | |||||||
Cost Reconciliation Schedule |
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Costs accounted for |
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Transferred out |
$ | |||||||
Work in process, February 28 |
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Materials |
$ | |||||||
Conversion costs |
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Total costs |
$ |
Click if you would like to Show Work for this question: |
Open Show Work |
Prepare a production cost report for the Welding Department for the month of February. (Round unit costs to 2 decimal places, e.g. 2.25 and all other answers to 0 decimal places, e.g. 1,225.)
HEALTHY MANUFACTURING COMPANY |
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Equivalent Units |
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Quantities |
Physical |
|
Conversion |
|||||
Units to be accounted for |
||||||||
Work in process, February 1 |
15300 |
|||||||
Started into production |
51100 |
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Total units |
66400 |
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Units accounted for |
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Transferred out |
54800 |
54800 |
54800 |
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Work in process, February 28 |
11600 |
11600 |
11600/5 = 2320 |
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Total units |
66400 |
66400 |
57120 |
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Costs |
|
Conversion |
|
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Unit costs |
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Total Costs |
$219120 |
174216 |
$393336 | |||||
Equivalent units |
66400 |
57120 |
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Unit costs |
$3.30 | $3.05 | $6.35 | |||||
Costs to be accounted for |
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Work in process, February 1 |
$32760 | |||||||
Started into production |
360576 |
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Total costs |
$393336 | |||||||
Cost Reconciliation Schedule |
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Costs accounted for |
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Transferred out |
$347980 | |||||||
Work in process, February 28 |
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Materials |
$38280 | |||||||
Conversion costs |
7076 |
45356 |
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Total costs |
$393336 |
Exercise 3-13 (Video) The Welding Department of Healthy Company has the following production and manufacturing cost...
15,300 units, The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Manufacturing Costs Production Data Beginning Beginning work work in in process 1/10 complete process Units Materials $17,900 transferred 54,800 out Conversion 14,860 $32,760 Units started 51,100 costs 201 220 Ending work Materials 201,220 11.600 units, 1/5 complete in process Labor 67,700 Overhead 91,656 Prepare a production cost report for the Welding...
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