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 116,000 units made up of the following.
Amount | Degree of Completion | |||||
Prior department costs transferred in from the Molding Department | $ | 168,200 | 100 | % | ||
Costs added by the Assembling Department | ||||||
Direct materials | $ | 92,800 | 100 | % | ||
Direct labor | 44,752 | 60 | % | |||
Manufacturing overhead | 29,188 | 50 | % | |||
$ | 166,740 | |||||
Work in process, April 1 | $ | 334,940 | ||||
During April, 516,000 units were transferred in from the Molding Department at a cost of $748,200. The Assembling Department added the following costs.
Direct materials | $ | 378,240 | |
Direct labor | 238,848 | ||
Manufacturing overhead | 146,652 | ||
Total costs added | $ | 763,740 | |
Assembling finished 416,000 units and transferred them to the Packaging Department.
On April 30, 216,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory on April 30 was as follows.
Direct materials | 80 | % |
Direct labor | 70 | |
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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