Question

In: Accounting

The Welding Department of Swifty Company has the following production and manufacturing cost data for February...

The Welding Department of Swifty 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 15,300 units, 1/10 complete
    Materials $18,000 Units transferred out 54,900
    Conversion costs 14,760 $32,760 Units started 50,600
Materials 215,945 Ending work in process 11,000 units, 1/5 complete
Labor 67,500
Overhead 83,330


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.)

SWIFTY 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

$

Solutions

Expert Solution

SWIFTY MANUFACTURING COMPANY
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 15300
Started into production 50600
Total units 65900
Units accounted for
Transferred out 54900 54900 54900
Work in process, February 28 11000 11000 2200
Total units 65900 65900 57100
Materials Conversion Costs Total
Unit costs:
Total costs 233945 165590 399535
Equivalent units 65900 57100
Unit costs 3.55 2.90 6.45
Costs to be accounted for
Work in process, February 1 32760
Started into production 366775
Total costs 399535
Cost Reconciliation Schedule
Costs accounted for
Transferred out 354105 =54900*6.45
Work in process, February 28
      Materials 39050 =11000*3.55
      Conversion costs 6380 45430 =2200*2.90
Total costs 399535

Related Solutions

The Welding Department of Majestic Company has the following production and manufacturing cost data for February...
The Welding Department of Majestic Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Majestic uses the FIFO method to compute equivalent units. Manufacturing Costs Production Data Beginning work in process $57,915 Beginning work in process 27,000 units, 10% complete Costs transferred in 243,000 Units transferred out 97,200 Materials 102,600 Units transferred in 115,200 Labor 63,180 Ending work in process 45,000 units, 20% complete Overhead 123,120 Prepare...
The Welding Department of Concord Company has the following production and manufacturing cost data for February...
The Welding Department of Concord 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 15,300 units, 1/10 complete     Materials $17,500 Units transferred out 54,500     Conversion costs 14,160 $31,660 Units started 50,800 Materials 227,070 Ending work in process 11,600 units, 1/5 complete Labor 67,200 Overhead 80,577 Prepare a production cost report for the Welding Department for...
The Welding Department of Vaughn Company has the following production and manufacturing cost data for February...
The Welding Department of Vaughn 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 15,000 units, 1/10 complete     Materials $18,000 Units transferred out 54,600     Conversion costs 14,360 $32,360 Units started 50,900 Materials 199,470 Ending work in process 11,300 units, 1/5 complete Labor 67,500 Overhead 83,034 Prepare a production cost report for the Welding Department for...
The Welding Department of Healthy Company has the following production and manufacturing cost data for February...
The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2017. All materials are added at the beginning of the process. Manufacturing Costs Production Data Beginning work in process Beginning work in process 15,100 units, 1/10 complete     Materials $17,800 Units transferred out 55,000     Conversion costs 15,160 $32,960 Units started 51,200 Materials 211,598 Ending work in process 11,300 units, 1/5 complete Labor 67,900 Overhead 39,476 Prepare a production cost report for the Welding Department for...
The Welding Department of Majestic Company has the following production and manufacturing cost data for February...
The Welding Department of Majestic Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Majestic uses the FIFO method to compute equivalent units. Beginning work in process $46,332 Beginning work in process 21,600 units, 10% complete Costs transferred in 194,400 Units transferred out 77,760 Materials 82,080 Units transferred in 92,160 Labor 50,544 Ending work in process 36,000 units, 20% complete Overhead 98,496 Prepare a production cost report...
The Welding Department of Healthy Company has the following production and manufacturing cost data for February...
The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2017. All materials are added at the beginning of the process. Manufacturing Costs Production Data Beginning work in process Beginning work in process 14,500 units, 1/10 complete Materials $17,500 Units transferred out 55,000 Conversion costs 14,560 $32,060 Units started 50,700 Materials 192,444 Ending work in process 10,200 units, 1/5 complete Labor 67,000 Overhead 67,885 Prepare a production cost report for the Welding Department for...
The Welding Department of Healthy Company has the following production and manufacturing cost data for February...
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 15,000 units, 1/10 complete Materials $18,000 Units transferred out 55,000 Conversion costs 14,175 $32,175 Units started 51,000 Materials 180,000 Ending work in process 11,000 units, 1/5 complete Labor 67,380 Overhead 61,445 Prepare a production cost report for the Welding Department for...
The Welding Department of Majestic Company has the following production and manufacturing cost data for February...
The Welding Department of Majestic Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Majestic uses the FIFO method to compute equivalent units. Beginning work in process $46,332 Beginning work in process 21,600 units, 10% complete Costs transferred in 194,400 Units transferred out 77,760 Materials 82,080 Units transferred in 92,160 Labor 50,544 Ending work in process 36,000 units, 20% complete Overhead 98,496 Quantities Physical Units Materials Conversion...
The Welding Department of Majestic Company has the following production and manufacturing cost data for February...
The Welding Department of Majestic Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Majestic uses the FIFO method to compute equivalent units. Manufacturing Costs Production Data Beginning work in process $39,897 Beginning work in process 18,600 units, 10% complete Costs transferred in 167,400 Units transferred out 66,960 Materials 70,680 Units transferred in 79,360 Labor 43,524 Ending work in process 31,000 units, 20% complete Overhead 84,816 Prepare...
The Welding Department of Healthy Company has the following production and manufacturing cost data for February...
The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2017. All materials are added at the beginning of the process. Manufacturing Costs Production Data Beginning work in process Beginning work in process 15,200 units, 1/10 complete Materials $18,100 Units transferred out 54,700 Conversion costs 14,760 $32,860 Units started 51,000 Materials 220,220 Ending work in process 11,500 units, 1/5 complete Labor 67,500 Overhead 89,880 Prepare a production cost report for the Welding Department for...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT