Please get me the correct answer to fill the blank with ! Don’t copy from old. P
ID: 2393027 • Letter: P
Question
Please get me the correct answer to fill the blank with ! Don’t copy from old. Please #help ! 2 Exercise 3-13 Your answer is partially correct. Try again. 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 Beginning work in process Beginning work in process Units transferred out 15,200 units, 1/10 complete 55,100 50,900 11,000 units, 1/5 complete Materials $18,300 Conversion costs Materials Labor Overhead 15,160 $33,460 Units started 224,948 67,100 50,103 Ending work in process 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 decimal places, e.g. 1,225.)Explanation / Answer
1) Costs to be accounted for:
Work in process, February 1 (Materials $18,300+Conversion costs $15,160) $33,460
Started in to production (Materials $224,948+Labor $67,100+OH $50,103) $342,151
Total costs ($33,460+$342,151) $375,611
2) The work completed for job 7640 and job 7641 and total cost of these two jobs will be credited to work in process account as completed work.
Completed Work = Total cost of Job 7640+Total cost of Job 7641
= (Balance 1/1 total costs+Current year total costs)+(Balance 1/1 total costs+Current year total costs)
= ($84,024+$117,936)+($54,648+$160,488)
= $201,960+$215,136 = $417,096