The Welding Department of Majestic Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Majestic uses the FIFO method to compute equivalent units.

Instructions

Prepare a production cost report for the Welding Department for the month of February. Transferred-in costs are considered materials costs.

Transcribed Image Text:

Manufacturing Costs Production Data $ 32,175 15,000 units, 10% complete Beginning work in process Beginning work in process Costs transferred in 135,000 Units transferred out Units transferred in Materials 57,000 35,100 54,000 Labor 64,000 Overhead 68,400 Ending work in process 25,000 units 20% complete