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 111,000 units made up of the following:
Amount | Degree of Completion | |||||
Prior department costs transferred in from the Molding Department | $ | 155,400 | 100 | % | ||
Costs added by the Assembling Department | ||||||
Direct materials | $ | 99,900 | 100 | % | ||
Direct labor | 45,007 | 70 | % | |||
Manufacturing overhead | 25,026 | 50 | % | |||
$ | 169,933 | |||||
Work in process, April 1 | $ | 325,333 | ||||
During April, 511,000 units were transferred in from the Molding Department at a cost of $715,400. The Assembling Department added the following costs:
Direct materials | $ | 440,910 | |
Direct labor | 215,903 | ||
Manufacturing overhead | 117,264 | ||
Total costs added | $ | 774,077 | |
Assembling finished 411,000 units and transferred them to the Packaging Department.
At April 30, 211,000 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 | |
a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
|
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 |
DETAILS | |||||
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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