Exercise 17-13 The Welding Department of Healthy Company has the following produ

Question

Exercise 17-13 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 Units transferred out 15,200 units, 1/10 complete 54,800 51,500 11,900 units, 1/5 complete Materialss $17,800 14,760 $32,560 Units started Conversion costs Materials Labor Overhead 246,999 67,300 75,185 Ending work in process 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 O decimal places, e.g. 1,225.) decimal placeat e wan h

Explanation / Answer

Production cost report :

Equivalent unit Physical unit Material Conversion Units to be accounted for Beginning work in process 15200 Units started 51500 Total units to be accounted for 66700 Units accounted for Transferred out 54800 54800 54800 Ending work in process 11900 11900 2380 Total Units 66700 66700 57180 Costs Material Conversion Total Total cost 264799 157245 422044 Equivalent unit 66700 57180 Unit cost 3.97 2.75 6.72 Cost to be accounted for Work in process, Feb 1 32560 Started into production 389484 Total costs 422044 Cost reconciliation schedule Cost accounted for Transferred out 368256 Work in process, feb 28 Materials 47243 Conversion cost 6545 53788 Total costs 422044

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