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 101,000 units made up of the following: Degree of Amount Completion Prior department costs transferred in from the Molding Department $131,300 100% Costs added by the Assembling Department Direct materials $ 80,800 100% Direct labor 27.802 60% Manufacturing overhead 18.718 50% $ 127,320 Work in process, April 1 $258,620 During April, 501,000 units were transferred in from the Molding Department at a cost of $651,300. The Assembling Department added the following costs: Direct materials Direct labor Manufacturing overhead Total costs added $368,640 134,708 77,562 $580.910 Assembling finished 401,000 units and transferred them to the Packaging Department. At April 30, 201,000 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 Direct labor Manufacturing overhead 80% 70 40 Required: a. Prepare a production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.) KANSAS SUPPLIES Assembling Department Production Cost Report-FIFO COMPUTE EQUIVALENT UNITS Prior Physical Units Department Materials Labor Costs Flow of Production Units Manufacturingo Units to be accounted for Beginning WIP inventory Units started this period Total units to be accounted for Units accounted for: Units completed and transferred out: From beginning inventory Started and completed currently Units in ending WIP inventory Total units accounted for 01 0 0 0 0 Costs DETAILS Prior Total Costs Department Materials Labor Costs Manufacturin Overhead Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted $ 0 $ 0 $ 0 $ 0 $ 0 Cost per equivalent unit: Prior department costs Materials Labor Manufacturing overhead DETAILS Prior Total Costs Department Materials Costs Labor Manufacturing Overhead $ 0 Costs accounted for: Costs assigned to units transferred out: Costs from beginning WIP inventory Current costs added to complete beginning WIP inventory: Prior department costs Materials Labor Manufacturing overhead Total costs from beginning inventory Current costs of units started and completed: Prior department costs Materials Labor Manufacturing overhead Total costs of units started and completed 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 $ $ 0 0 $ $ 0 0 $ 0 $ 0 $ 0 $ 0
