Question

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 work in process						Beginning work in process		15,500	units, 1/10 complete
Materials		$ 18,200				Units transferred out		54,800
Conversion costs		14,460		$ 32,660		Units started		51,500
Materials				206,250		Ending work in process		12,200	units, 1/5 complete
Labor				67,700
Overhead				69,526

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 Welding Department Production Cost Report For the Month Ended February 28, 2020
				Equivalent Units
Quantities		Physical Units		Materials		Conversion Costs
Units to be accounted for
Work in process, February 1
Started into production
Total units
Units accounted for
Transferred out
Work in process, February 28
Total units
Costs				Materials		Conversion Costs		Total
Unit costs
Total Costs				$		$		$
Equivalent units
Unit costs				$		$		$
Costs to be accounted for
Work in process, February 1								$
Started into production
Total costs								$
Cost Reconciliation Schedule
Costs accounted for
Transferred out								$
Work in process, February 28
Materials						$
Conversion costs
Total costs								$

Answer 1

HEALTHY MANUFACTURING COMPANY
Welding Department
Production Cost Report
For the Month Ended February 28, 2020
		Equivalent Units
Quantities	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
a)  Total Costs (18200+206250); (14460+67700+69526)		$    224,450.00	$       151,686.00	$ 376,136.00
b)   Equivalent units		67000	57240
Unit costs (a) ÷ (b)		$               3.35	$                  2.65	$            6.00
Costs to be accounted for
Work in process, February 1				$   32,660.00
Started into production				$ 343,476.00
Total costs				$ 376,136.00
Cost Reconciliation Schedule
Costs accounted for
Transferred out (54800*6)				$ 328,800.00
Work in process, February 28
Materials (12200*3.35)			$         40,870.00
Conversion costs (2440*2.65)			$           6,466.00	$   47,336.00
Total costs				$ 376,136.00