Question

1005 Mgr Acc > Assignments > HW Chapter 16 - 16 U IC s Kimmel, Accounting, 7e Help System Announcements CALCULATOR PRINTER VERSION BACK NEXT Exercise 16-13 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 $18,300 Conversion costs 15,160 Materials Labor Overhead Production Data Beginning work in process 15,200 units, 1/10 complete Units transferred out 55,100 Units started 50,900 Ending work in process 11,000 units, 1/5 complete $33,460 226,270 67,100 49,530 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 o decimal places, e.g. 1,225.) HEALTHY MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended February 28, 2020 Equivalent Units Physical Conversion Units Materials Costs Quantities Units to be accounted for Work in process, February 1 Started into production Total units Units accounted for Tennent

Answer 1

HEALTHY MANUFACTURING COMPANY
Welding Department
Production Cost Report
For the Month Ended February 28, 2020
	Physical Units	Equivalent Units
Quantities		Materials	Conversion Costs
Units to be accounted for:
Work in process, February 1	15,200
Started into production	50,900
Total Units	66,100
Units accounted for:
Transferred out	55,100	55,100	55,100
Work in process, February 28 (11,000*1/5)	11,000	11,000	2,200
Total Equivalent Units		66,100	57,300
Costs:		Materials (1)	Conversion Costs (2)	Total (1 + 2)
Total Costs ($18,300 + $226,270); ($15,160 + $67,100 + $49,530) (a)		$244,570	$131,790	$376,360
Equivalent Units (b)		66,100	57,300
Unit Costs (a/b)		$3.70	$2.30	$6.00
Costs to be accounted for:
Work in process, February 1 (15,200*1/10 = 1,520 * $6)				$9,120
Started into production (55,100 * $6)				$330,600
Total Costs				$339,720
Cost Reconciliation Schedule:
Costs accounted for:
Transferred out (55,100 * $6)				$330,600
Work in process, February 28
Matarials (11,000 * $3.70)			$40,700
Conversion costs (2,200 * $2.30)			$5,060	$45,760
Total Costs				$376,360