Intrepid Industries manufactures sterile parts used in medical equipment. The company uses the weighted-average process costing method to account for production costs. It produces parts in three different departments: Forming, Sterilization, and Assembling. The following information was reported for the Assembling Department for the month of June: Beginning work-in-progress inventory on June 1 had 250,000 units made up of the following: Degree of Completion Amount 0 $387,600 100% Prior department costs transferred in from the pniob to atoello o luoda eom worl ol einsw bos moey nols aloog 0o beehovo r belltns wollot as loog ose Forming Department Costs added by the Steril- ization Department: 317,200 100% Direct materials 120,050 40% Direct labor 67.100 30% Manufacturing overhead BOO.O .0 $504,350 $891,950 Work in process, June 1 During June, 580,000 units were transferred in from the Forming Department at a cost of $1,870,000. The Assembling Department added the following costs: $974,800 Direct materials 318,600 Direct labor Manufacturing overhead 202.000 $1,495,400 Total costs added ari-shirer Assembling finished 480,000 units and transferred them to the Sterilization Department. At June 30, the number of units in ending work-in-progress inventory was 350,000. The degree of completion of work-in-process inventory at June 30 was as indicated below: Direct materials 80% Direct labor 65 Manufacturing overhead 30 A. Prepare a correctly formatted (including heading) production cost report (see Exhibit 8.11 as a example report) using the weighted-average method. B. Management wants to lower the costs of manufacturing the parts. It has established the following per unit targets for this product in the Assembling Department: materials $1.65, labor, $.62; and manufacturing overhead $0.48. Has the product achieved management's cost targets in the Assembling Department? Write a short report to management containing your answer(s). ct be en