Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 118,000 units made up of the following:

Amount Degree of Completion
Prior department costs transferred in from the Molding Department $ 173,460 100 %
Costs added by the Assembling Department
Direct materials $ 106,200 100 %
Direct labor 51,496 70 %
Manufacturing overhead 26,406 50 %
$ 184,102
Work in process, April 1 $ 357,562

During April, 518,000 units were transferred in from the Molding Department at a cost of $761,460. The Assembling Department added the following costs:

Direct materials $ 446,580
Direct labor 244,704
Manufacturing overhead 121,884
Total costs added $ 813,168

Assembling finished 418,000 units and transferred them to the Packaging Department.

At April 30, 218,000 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.)

rev: 10_18_2016_QC_CS-65990

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Regulations Audit Market Structure And Financial Reporting Quality Foundations And Trends R In Accounting

Authors: Christopher Bleibtreu, Ulrike Stefani

1st Edition

1680839004, 978-1680839005

More Books

Students also viewed these Accounting questions