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 112,000 units made up of the following:
| Amount | Degree of Completion | ||||
Prior department costs transferred in from the Molding Department | $ | 157,920 |
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| 100 | % |
Costs added by the Assembling Department |
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Direct materials | $ | 89,600 |
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| 100 | % |
Direct labor |
| 36,744 |
|
| 60 | % |
Manufacturing overhead |
| 28,416 |
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| 50 | % |
| $ | 154,760 |
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Work in process, April 1 | $ | 312,680 |
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During April, 512,000 units were transferred in from the Molding Department at a cost of $721,920. The Assembling Department added the following costs:
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Direct materials | $ | 375,680 |
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Direct labor |
| 187,416 |
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Manufacturing overhead |
| 145,464 |
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Total costs added | $ | 708,560 |
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Assembling finished 412,000 units and transferred them to the Packaging Department.
At April 30, 212,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at April 30 was as follows:
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Direct materials | 80 | % |
Direct labor | 70 |
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Manufacturing overhead | 40 |
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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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