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 109,000 units made up of the following.
Amount | Degree of Completion | |||||
Prior department costs transferred in from the Molding Department | $ | 150,420 | 100 | % | ||
Costs added by the Assembling Department | ||||||
Direct materials | $ | 87,200 | 100 | % | ||
Direct labor | 40,518 | 70 | % | |||
Manufacturing overhead | 18,006 | 50 | % | |||
$ | 145,724 | |||||
Work in process, April 1 | $ | 296,144 | ||||
During April, 509,000 units were transferred in from the Molding Department at a cost of $702,420. The Assembling Department added the following costs.
Direct materials | $ | 390,480 | |
Direct labor | 189,962 | ||
Manufacturing overhead | 105,144 | ||
Total costs added | $ | 685,586 | |
Assembling finished 409,000 units and transferred them to the Packaging Department.
At April 30, 209,000 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 | 80 | |
Manufacturing overhead | 40 | |
Required:
a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
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