The Welding Department of Thorpe Company has the following production
Question # 00105830
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Updated on: 09/21/2015 04:29 PM Due on: 10/21/2015
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 | |||
| Beginning work in process | Beginning work in process | 15,220 | units, 1/10 complete | |
| Materials | $17,830 | Units transferred out | 48,720 | |
| Conversion costs | 14,410 | $32,240 | Units started | 46,260 |
| Materials | 221,942 | Ending work in process | 12,760 | units, 1/5 complete |
| Labor | 52,770 | |||
| Overhead | 86,636 |
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 |
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Rating:
/5
Solution: The Welding Department of Thorpe Company has the following production