Question 3 The welding department of Balogh Manufacturing Company has the follow

Question

Question 3 The welding department of Balogh Manufacturing Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Manufacturing Costs Beginning work in process Production Data Beginning work in process 15,800 units 1/10 complete 49,700 44,700 10,800 units 1/5 complete Materials $18,340 Conversion costs 14,210 $32,550 Units transferred out Materials Labour Overheac 193,410 Units started 52,190 68,436 Ending work in process

Explanation / Answer

Equivalent unit Quantites Physical units Material Conversion cost Total Units to be accounted For: Work in process, February 1 15800 Started into Production 44700 Total units 60500 Units accounted for Transferred Out 49700 49700 49700 Work in process, Feb, 29 10800 10800 2160 Total units 60500 60500 51860 Costs Unit costs Costs in February 211750 134836 346586 Equivalent units 60500 51860 Unit costs 3.5 2.6 6.1 Costs to be accounted for Work in Process, February 1 32550 Started into production 314036 Total costs 346586 Cost Reconcilliation Schedule Costs accounted for Transferred out 303170 Work in Process, February, 29 Materials 37800 Conversion Costs 5616 43416 Total costs 346586

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