The Welding Department of Hirohama Manufacturing Company has the following production and manufacturing cost data for February 2008. All materials are added at the beginning of the process. Hirohama uses the FIFO method to compute equivalent units.
- Manufacturing Costs
- Production Data
Beginning work in process $32,175 Beginning work in process 15,000 units
- Costs transferred in 135,000 10% complete
- Materials 57,000 Units transferred out 50,000
- Labor 35,100 Units transferred in 60,000
- Overhead 71,900 Ending work in process 25,000 units
- 20% complete
Complete the production cost report for the Welding Department for the month of February. Transferred in costs are considered materials costs.