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    Production cost report

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    The Welding Department of Hirohama Manufacturing Company has the following production and manufacturing cost data for February 2005. All materials are added at the beginning of the process. Hirohama uses the FIFO method to calculate equivalent units.

    Manufacturing Costs

    Beginning work in process $32,175
    Costs transferred in 135,000
    Materials 57,000
    Labour 35,100
    Overhead 71,900

    Production Data

    Beginning work in process 15,000 units
    10% complete
    Units transferred out 50,000
    Units transferred in 60,000
    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.

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    Solution Summary

    The solution explains how to prepare a production cost report.