Question

Synced to Gradebook Wed Feb 26, 2020, 7:19:11 PM (America/New York-05:00) < Prev Next > Question 13 --/5 View Policies Current Attempt in Progress 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 Beginning work in process Materials $18,200 Conversion costs 14,460 Materials Labor Overhead Production Data Beginning work in process 15,500 units, 1/10 complete Units transferred out 54,800 $32,660 Units started . 51.500 206,250 Ending work in process 12,200 units, 1/5 complete 67.700 69,526 Prepare a production cost report for the Welding Department for the month of February (Round unit costs to 2 decimal places, eg. 2.25 and all other answers to decimal places, eg. 1,225)

Answer 1

Welding Department
Production Cost Report
For the Month Ended February 28, 2020
		Equivalent Units
	Physical Units	Materials	Conversion Costs
Units to be accounted for
Work in process, February 1	15500
Started into production	51500
Total units	67000
Units accounted for
Transferred out	54800	54800	54800
Work in process, February 28	12200	12200	2440
Total units	67000	67000	57240
Costs		Materials	Conversion Costs	Total
Unit costs:
Total costs		224450	151686	376136
Equivalent units		67000	57240
Unit costs		3.35	2.65	6.00
Costs to be accounted for
Work in process, February 1				32660
Started into production				343476
Total costs				376136
Cost Reconciliation Schedule
Costs accounted for
Transferred out				328800	=54800*6
Work in process, February 28
Materials			40870		=12200*3.35
Conversion costs			6466	47336	=2440*2.65
Total costs				376136