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 115,000 units made up of the following.
Amount | Degree of Completion | |||||
Prior department costs transferred in from the Molding Department | $ | 165,600 | 100 | % | ||
Costs added by the Assembling Department | ||||||
Direct materials | $ | 108,100 | 100 | % | ||
Direct labor | 47,965 | 70 | % | |||
Manufacturing overhead | 29,355 | 50 | % | |||
$ | 185,420 | |||||
Work in process, April 1 | $ | 351,020 | ||||
During April, 515,000 units were transferred in from the Molding Department at a cost of $741,600. The Assembling Department added the following costs.
Direct materials | $ | 463,890 | |
Direct labor | 227,925 | ||
Manufacturing overhead | 147,135 | ||
Total costs added | $ | 838,950 | |
Assembling finished 415,000 units and transferred them to the Packaging Department.
At April 30, 215,000 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 | 35 | |
Required:
a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
KANSAS SUPPLIES Assembling Department Production Cost Report-Weighted Average Physical Units Total Costs Prior Department Costs Materials Labor Manufacturing Overhead Flow of Production Units Units to be accounted for: Beginning WIP inventory Units started this period Total units to be accounted for 0 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 0 0 0 0 0 0 Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for $ 0 $ 0 $ 0 $ 0 $ 0 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 $ 0 Manufacturing overhead Total costs of units transferred out Costs assigned to ending WIP inventory: Prior department costs Materials Labor Manufacturing overhead Manufacturing overhead Total ending WIP inventory Total costs accounted for S 0 S 0 $ 0 $ 0 $ 0 $ 0Step by Step Solution
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