The Welding Department of Thorpe Company has the following production and manufa
ID: 2424715 • 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
Materials
Conversion costs
14,175
Instructions
Prepare a production cost report for the Welding Department for the month of February.
Manufacturing Costs
Production Data
Beginning work in process Beginning work in process 15,000 unitsMaterials
$18,000 1/10 completeConversion costs
14,175
$32,175 Units transferred out 49,000 Materials 180,000 Units started 45,000 Labor 52,380 Ending work in process 11,000 units Overhead 61,445 1/5 completeExplanation / Answer
computation of equilavent units particulars materials labour overheads transfered out 49000 49000 49000 closing work in progress 11000 2200 2200 total(a) 60000 51200 51200 costs incured (b) 1818000 66555 61445 cost unit (b/a) 30.30 1.30 1.20 cost of finished goods material 30.30 labour 1.30 overhead 1.20 total 32.80 units transfered out 49000 total cost 1607200 Cost of work in progress material (30.3*11000) 333300 labour (1.3*2200) 2859.79 over head (1.2*2200) 2640.21 total 338800
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