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Douglas Toys is a manufacturer that uses the weighted-average process costing method to account for costs of production. It produces a plastic toy in three
Douglas Toys is a manufacturer that uses the weighted-average process costing method to account for costs of production. It produces a plastic toy in three separate departments: Molding, Assembling, and Finishing. The following information was obtained for the Assembling Department for the month of September. |
Work in process on September 1 had 111,000 units made up of the following: |
Amount | Degree of Completion | |||||
Prior department costs transferred in from the Molding Department | $ | 155,400 | 100 | % | ||
Costs added by the Assembling Department | ||||||
Direct materials | $ | 99,900 | 100 | % | ||
Direct labor | 45,007 | 70 | % | |||
Manufacturing overhead | 25,026 | 50 | % | |||
$ | 169,933 | |||||
Work in process, September 1 | $ | 325,333 | ||||
During September, 511,000 units were transferred in from the Molding Department at a cost of $715,400. The Assembling Department added the following costs: |
Direct materials | $ | 440,910 |
Direct labor | 215,903 | |
Manufacturing overhead | 117,264 | |
Total costs added | $ | 774,077 |
Assembling finished 411,000 units and transferred them to the Finishing Department. |
At September 30, 211,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at September 30 was as follows: |
Direct materials | 90 | % | |
Direct labor | 80 | ||
Manufacturing overhead | 30 |
Required: |
Prepare a production cost report using the weighted-average method.(Round "cost per equivalent unit" to 2 decimal places.) |
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