Question
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
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:
Amount | Degree of Completion | |||||
Prior department costs transferred in from the Molding Department | $ | 192,000 | 100 | % | ||
Costs added by the Assembling Department | ||||||
Direct materials | $ | 120,000 | 100 | % | ||
Direct labor | 43,200 | 60 | % | |||
Manufacturing overhead | 27,600 | 50 | % | |||
$ | 190,800 | |||||
Work in process, April 1 | $ | 382,800 | ||||
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 | $ | 576,000 | |
Direct labor | 216,000 | ||
Manufacturing overhead | 113,400 | ||
Total costs added | $ | 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 | 90 | % |
Direct labor | 70 | |
Manufacturing overhead | 35 | |
Required:
a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
PLEASE GIVE ANSWERS FOR ALL BOXES MARKED WITH STARS!!!!
Flow of production units | |
Physical Units | |
Units to be accounted for: | |
Beginning WIP inventory | * |
Units Started This Period | * |
Total Units to be Accounted For |
Compute Equivalent Units
Prior Department Costs Materials Labor Manufacturing Overhead Units Accounted For: Units Completed and Transferred Out From Beginning Inventory * Started and Completed Currently * Total Transferred Out * * * * Units in Ending WIP Inventory * * * * * Total Units Accounted For
Total Costs | Prior Department Costs | Materials | Labor | Manufacturing Overhead | |
Costs to be Accounted For | |||||
Costs in Beginning WIP Inventory | * | * | * | * | * |
Current Period Costs | * | * | * | * | * |
Total Costs to be Accounted For | |||||
Cost per equivalent unit | |||||
Prior department costs | * | ||||
Materials | * | ||||
Labor | * | ||||
Manufacturing Overhead | * | ||||
Costs accounted for: | |||||
Costs assigned to units transferred out: | |||||
Prior department costs | * | * | |||
Materials | * | * | |||
Labor | * | * | |||
Manufacturing Overhead | * | * | |||
Total costs of units transferred out | |||||
Costs assigned to ending WIP inventory: | |||||
Prior department costs | * | * | |||
Materials | * | * | |||
Labor | * | * | |||
Manufacturing Overhead | * | * | |||
Total ending WIP inventory | |||||
Total costs accounted for |
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