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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 month of February.

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Expert Solution

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 15000
Started into production 51000
Total units 66000
Units accounted for
Transferred out 55000 55000 55000
Work in process, February 28 11000 11000 2200
Total units 66000 66000 57200
Materials Conversion Costs Total
Unit costs:
Total costs 198000 143000 341000
Equivalent units 66000 57200
Unit costs 3.00 2.50 5.50
Costs to be accounted for
Work in process, February 1 32175
Started into production 308825
Total costs 341000
Cost Reconciliation Schedule
Costs accounted for
Transferred out 302500 =55000*5.50
Work in process, February 28
      Materials 33000 =11000*3.00
      Conversion costs 5500 38500 =2200*2.50
Total costs 341000

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