Question

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								$

Answer 1

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