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		14,500	units, 1/10 complete
Materials		$ 17,600				Units transferred out		55,300
Conversion costs		15,060		$ 32,660		Units started		50,600
Materials				200,485		Ending work in process		9,800	units, 1/5 complete
Labor				67,400
Overhead				49,238

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	14,500
Started into production	50,600
Total units	65,100
Units accounted for
Transferred out	55,300	55,300	55,300
Work in process, February 28	9,800	9,800	1960
Total units	65,100	65,100	57,260
Costs
		Materials	Conversion Costs	Total
Unit costs
a)  Total Costs (17600 + 200485); (15060 +67400+49238)		$     2,18,085.00	$      1,31,698.00	$ 3,49,783.00
b)   Equivalent units		65,100	57,260
Unit costs (a) ÷ (b)		$                 3.35	$                  2.30	$              5.65
Costs to be accounted for
Work in process, February 1				$     32,660.00
Started into production				$ 3,17,123.00
Total costs				$ 3,49,783.00
Cost Reconciliation Schedule
Costs accounted for
Transferred out (55300 x $5.65)				$ 3,12,445.00
Work in process, February 28
Materials (9800 x $3.35)			$         32,830.00
Conversion costs (2200 x $2.30)			$           4,508.00	$     37,338.00
Total costs				$ 3,49,783.00