Solution:
MANUFACTURING COMPANY
Welding Department
Production Cost Report
For the Month Ended February 28, 2020
Equivalent Units
Quantities Physical Materials Conversion
Units Costs
Units to be accounted for
Work in process, February 1 15,300
Started into production 50,600
Total units 65,900
Units accounted for
Transferred out 54,900 54,900 54,900
Work in process, February 28 11000 11000 2200
Total units 65,900 65,900 65,900
Costs Materials Conversion Costs Total
Unit costs
Total Costs $233945 $128000 $326000
Equivalent units 60000 51200
Unit costs $3.3 $2.5 $5.8
Costs to be accounted for
Work in process, February 1 $32,175
Started into production 293825
Total costs $326000
Cost Reconciliation Schedule
Costs accounted for Transferred out $284200
Work in process, February 28
Materials $36300
Conversion costs 5500 41800
Total costs $326000
