8-54 (Algo) Prepare a Production Cost Report FIFO Method (LO 8-4,5) Kansas Supplies is a manufacturer of plastic parts that uses the weighted average process costing method to account for costs of production. It produces ports in three separate departments: Molding. Assembling and Packaging. The following information was obtained for the Assembling Department for the month of April Work in process on April 1 had 105,000 units made up of the following. Degree of Prior department costs transferred in from the Molding Department Costs added by the Assenbling Department Direct naterials Direct labor Manufacturing overhead Work in process, April 1 Amount Completion $150,420 100% $ 87,200 100% 43,518 70% 18,886 50% $145,724 $295,144 During April, 500,000 units were transferred in from the Molding Department at a cost of $702,420 The Assembling Department added the following costs. Direct materials $399,480 Direct labor 189,962 Manufacturing overhead Total costs added $685,586 105,144 Assembling finished 409,000 units and transferred them to the Packaging Department. At April 30,200,000 units were still in work-in-process inventory. The degree of completion of work-in-proce Inventory at April 30 was as follows. Direct materials 90% Direct labor Manufacturing overhead 80 40 Required: Prepare production cost report using FIFO. [Round "Cost per equivalent unit' to 2 decimal places.) KANSAS SUPPLIES Assembling Department Production Cost Report-FIFO Flow of Production Units Units to be accounted for Beginning WP inventory Units scared this period Prior Physical Units Total Costs Department Materials Labor Manufacturing Overhead Costs Total units to be accounted for 0 Units accounted for. Units completed and transferred out From beginning inventory Started and completed currently Units in ending WP inventory Total units accounted for Costs to be accounted for Costs in beginning WP inventory Cument period costs Total costs to be accounted for 0 0 0 $ 0$ At April 30,209,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at April 30 was as follows. Direct materials 98% Direct labor Manufacturing overhead Required 88 48 Prepare a production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.) KANSAS SUPPLIES Assembling Department Production Cost Report-FIFO Physical Total Prior Department Materials Labor Units Costs Manufacturing Overhead Costs Flow of Production Units Units to be accounted for: Beginning WIP Inventory Units started this period Total units to be accounted for Units accounted for Units completed and transferred out: From beginning inventory Started and completed currently Units in ending WIP inventory Total units accounted for Costs to be accounted for: Costs in beginning WIP Inventory Current period costs Total costs to be accounted for Cost per equivalent unt Prior department costs Materials Labor Manufacturing overhead Costs accounted for Costs assigned to units transferred out Costs from beginning WIP inventory Current costs added to complete beginning WIP inventory Prior department costs Materials Labor Manufacturing overhead Total costs from beginning Inventory Current costs of units started and completed Prior department costs Materials Labor Manufacturing overhead 0 01 01 0 S 0S s 05 0 0 Total costs of units started and completed S 0 Total costs of units transferred out $ 0 Costs assigned to ending WIP inventory: Prior department costs Materials Labor Manufacturing overhead Total encing WIP Inventory Total costs accounted for $ 0 S 0 $ 0 $