Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account
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 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 117,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 170,820 100 % Costs added by the Assembling Department Direct materials $ 93,600 100 % Direct labor 55,219 70 % Manufacturing overhead 18,861 50 % $ 167,680 Work in process, April 1 $ 338,500 During April, 517,000 units were transferred in from the Molding Department at a cost of $754,820. The Assembling Department added the following costs. Direct materials $ 396,240 Direct labor 269,611 Manufacturing overhead 101,664 Total costs added $ 767,515 Assembling finished 417,000 units and transferred them to the Packaging Department. At April 30, 217,000 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 30 Required: a. Prepare a production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.)