Question

PRINTER VERSION (BACK ΝEXΤΣ Question 2 The welding department of Balogh Manufacturing 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 work in process Beginning work in process 16,000 units 1/10 complete $17,820 Materials Conversion costs $32,260 Units transferred out 49,100 14,440 Units started Materials 194,280 44,600 Labour Ending work in process 52,960 11,500 units Overhead 58,530 1/5 complete Prepare a production cost report for the welding department for the month of February. (Round unit costs to 2 decimal places, e.g. 15.25.)

Answer 1

Balogh manufacturing company Welding department Production cost report for the month ended February 29,2020

Quantities	Physical units	Materials	Conversion costs
Units to be accounted for
Work in progress, February 1	16,000
Started into production	44,600
Total units	60,600
Units accounted for
Transferred out	49,100	49,100	49,100
Work in progress February 29	11,500	11,500	2,300
Total units	60,600	60,600	51,400

Costs	Materials	Conversion costs	Total
Unit costs
Costs in February	$212,100	$125,930	$338,030
Equivalent units	60,600	51,400	-
Unit costs	$3.5	$2.45	5.95
Cost to be accounted for
Work in progress February 1			$32,260
Started into production			$305,770
Total costs			$338,030

Cost reconciliation schedule
Cost accounted for
Transferred out(49,100×5.95)		$292,145
Work in progress, February 29
Materials(11,500×3.5)	$40,250
Conversion costs(2,300×2.45)	$5,635
Total costs		$338,030

____×____

All the best

Please do support

Any doubt comment below