Question

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 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, 2017 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 $ Click if you would like to Show Work for this question: Open Show Work

Answer 1

THORPE MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended February 28, 2017
		Equivalent Units
Quantities	Physical units	Material	Conversion Cost
Units to be accounted for
Work in process, February 1	15200
Started into production	51000
Total Units	66200
Units accounted for
Transferred out	54700	54700	54700
Work in progress Feb 28	11500	11500	2300
Total Units	66200	66200	57000
Costs	Material	Conversion Cost	Total
Unit Costs
Total Costs	238320	172140	410460
Equivqlent Units	66200	57000
Unit Costs	3.6	3.02	6.62
(18100+220220) = 238320
(14760+67500+89880)=172140

Costs to be accounted for
Work in process, February 1	32860
Started into production	377600
Total Cost	410460

220220+67500+89880

Cost Reconciliation Schedule
Costs accounted for
Transferred out		362114	(54700*6.62)
Work in process, February 28			(11500*3.6)
Materials	41400		(2300*3.02)
Conversion Cost	6946	48346
Total Costs		410460