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 processBeginning work in process15,500 units, 1/10 complete Materials$18,200Units transferred out54,800 Conversion costs14,460$32,660Units started51,500 Materials204,910Ending work in process12,200 units, 1/5 complete Labor67,700 Overhead68,954 Prepare a production cost report for the Welding Department for the month of February.

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.