Ferdon Watches, Inc., makes four models of watches, Gag-Gift, Commuter, Sport, and Retirement. Ferdon manufactures the watches in four departments: Assembly, Polishing, Special Finishing, and Packaging. All four models are started in Assembly where all material is assembled. The Gag-Gift is transferred to Packaging, where it is packaged and transferred to finished goods inventory. The Commuter and Sport are assembled, then transferred to Polishing. Once the polishing process is completed, they are transferred to Packaging and then finished goods. The Retirement model is assembled and then transferred to Special Finishing, and then Packaging. When packaged, it is transferred to finished goods.

Data for October are shown in the following table. Conversion costs are allocated based on the number of units processed in each department.

TotalGag-Gift

(5,800 units)Commuter

(10,800 units)Sport

(14,600 units)Retirement

(2,800 units)Materials$426,000$29,000$108,000$219,000$70,000Conversion costs:Assembly$204,000Polishing127,000Special Finishing33,600Packaging170,000Total conversion costs$534,600

Required:

b.What is the cost per unit transferred to finished goods inventory for each of the four watches in October?(Round "Cost Per Unit" to 2 decimal places.)

Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts 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 112,000 units made up of the following.

AmountDegree of CompletionPrior department costs transferred in from the Molding Department$157,920100%Costs added by the Assembling DepartmentDirect materials$89,600100%Direct labor36,74460%Manufacturing overhead28,41650%$154,760Work in process, April 1$312,680

During April, 512,000 units were transferred in from the Molding Department at a cost of $721,920. The Assembling Department added the following costs.

Direct materials$375,680Direct labor187,416Manufacturing overhead145,464Total costs added$708,560

Assembling finished 412,000 units and transferred them to the Packaging Department.

At April 30, 212,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at April 30 was as follows.

Direct materials80%Direct labor70Manufacturing overhead40

Required:

a.Prepare the production cost report using the weighted-average method.

Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts 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 106,000 units made up of the following.

AmountDegree of CompletionPrior department costs transferred in from the Molding Department$143,100100%Costs added by the Assembling DepartmentDirect materials$90,100100%Direct labor35,17260%Manufacturing overhead24,40250%$149,674Work in process, April 1$292,774

During April, 506,000 units were transferred in from the Molding Department at a cost of $683,100. The Assembling Department added the following costs.

Direct materials$395,080Direct labor184,908Manufacturing overhead119,028Total costs added$699,016

Assembling finished 406,000 units and transferred them to the Packaging Department.

At April 30, 206,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at April 30 was as follows.

Direct materials80%Direct labor70Manufacturing overhead35

Required:

a.Prepare the production cost report using FIFO.