Question 1 The Welding Department of Healthy Company has the following productio

Question

Question 1

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

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

Costs

Materials

Conversion
Costs

Total

Cost Reconciliation Schedule

Manufacturing Costs

Production Data

Beginning work in process Beginning work in process 15,100 units, 1/10 complete     Materials $17,500 Units transferred out 55,000     Conversion costs 14,460 $31,960 Units started 51,500 Materials 196,952 Ending work in process 11,600 units, 1/5 complete Labor 67,100 Overhead 50,849

Explanation / Answer

Materials

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 15,100 Started into production 51,500 Total units 66,600 Units accounted for Transferred out 55,000 55,000 55,000 Work in process, February 28 11,600 11,600 2,320 Total units 66,600 66,600 57,320

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