The Welding Department of Thorpe Company has the following production and manufa
ID: 2420833 • Letter: T
Question
The Welding Department of Thorpe Company has the following production and manufacturing cost data for February 2014. All materials are added at the beginning of the process.
Manufacturing Costs
Production Data
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.)
THORPE MANUFACTURING COMPANY
Welding Department
Production Cost Report
For the Month Ended February 28, 2014
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
Manufacturing Costs
Production Data
Beginning work in process Beginning work in process 15,330 units, 1/10 complete Materials $17,770 Units transferred out 49,000 Conversion costs 14,240 $32,010 Units started 44,830 Materials 204,822 Ending work in process 11,160 units, 1/5 complete Labor 52,730 Overhead 40,617Explanation / Answer
Cost Reconcilation Schedule
physical units Materails Conversion Units to be accounted for WIP ,Feb 1 15,530 Started into productuin 44,830 Total units 60,160 units accounted for Transferred out 49,000 49,000 49,000 WIP,feb 28 11,160 11,160 2,232 Total units 60,160 60,160 51,232Related Questions
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