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K Lori Electronics makes game consoles in three processes: assembly, programming, and packaging Direct materials are added at the beginning of the assembly process.
K Lori Electronics makes game consoles in three processes: assembly, programming, and packaging Direct materials are added at the beginning of the assembly process. Conversion costs are incurred evenly throughout the process. The Assembly Department had no Work-in-Process Inventory on October 31. (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare a production cost report for the Assembly Department for November. The company uses the weighted-average method. (Complete all input fields. Enter a "0" for any zero balances. Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used: EUP = equivalent units of production.) Lori Electronics Production Cost Report-Assembly Department Month Ended November 30 Equivalent Units Physical Direct Conversion UNITS Units Materials Costs Units to account for Total units to account for Units accounted for Total units accounted for More info In mid-November, Lori Electronics started production on 120,000 game consoles. Of this number, 74,000 game consoles were assembled during November and transferred out to the Programming Department. The November 30 Work-in-Process Inventory in the Assembly Department was 40% of the way through the assembly process. Direct materials costing $445,200 were placed in production in Assembly during November, direct labor of $109,300 was assigned, and manufacturing overhead of $132,788 was allocated to that department. Requirements 1. Prepare a production cost report for the Assembly Department for November. The company uses the weighted-average method. 2. Prepare a T-account for Work-in-Process Inventory-Assembly to show its activity during November, including the November 30 balance. -
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