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 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
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