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Problem 8-48 Prepare a Production Cost Report: Weighted-Average Method (LO 8-3,4) 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 75,000 units made up of the following: Degree of $ 192,000 100% Prior department costs transferred in from the Molding Department Costs added by the Assembling Department Direct materials Direct labor Manufacturing overhead $120,000 43,200 27,600 $190,800 $ 382,800 100% 60% 50% Work in process, April 1 During April, 375,000 units were transferred in from the Molding Department at a cost of $960,000. The Assembling Department added the following costs Direct materials Direct labor Manufacturing overhead Total costs added $576,000 216,000 113,400 $905,400 Assembling finished 300,000 units and transferred them to the Packaging Department. At April 30, 150,000 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 Direct labor Manufa 90% 70 35 Required a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.) Answer is complete and correct. KANSAS SUPPLIES Assembling Department Production Cost Report-Weighted Average Flow of Production Units Physical units Units to be accounted for Beginning WIP inventory Units started this period Total units to be accounted for 75,000 375,000 450,000 Answer is not complete COMPUTE EQUIVALENT UNITS Prior Department Costs Manufacturing Overhead Materials Labor Units accounted for Units completed and transferred out: 5,000 From beginning inventory Started and completed current 00,000 300,000300,000 50,00050,000135,000105,000 435,000 405,000 00,000 52,500 352,500 Total transferred out 5,000 Units in ending WIP inventory Total units accounted for 225,000 450,000 DETAILS Prior Manufacturing Overhead Total Costs Department Materials Labor Costs Costs to be accounted for $ 382,800$ 192,000$ 120,000( $43,200 1,865,400 960,000. 576,000 216,000 259,200 $ Costs in beginning WIP inventory Current period costs 27,600 113,400 141,000 Total costs to be accounted for $ 2,248,200 $ 1,152,000 696,000 Co st per equivalent unit: Prior department costs Materials Labor Manufacturing overhead 2.56 $ 1.60 $ 0.64 0.40 Costs accounted for: Costs assigned to units transferred out: $ 768,000768,000 Prior department costs Materials Labor Manufacturing overhead 480,000 192,000 20,000 $480,000 192,000 120,000 Total costs of units transferred out $1,560,000 Costs assigned to ending WIP inventory: $ 384,000384,000 Prior department costs Materials Labor Manufacturing overhead 216,000 216,000 67,200 21,000 $ 688,200 67,200 21,000 Total ending WIP inventory Total costs accounted for $ 2,248,200 $ 1,152,000 696,000 141,000 259,200
