PLEASE ANSWER ALL INCORRECT IN THE SAME FORMAT USING FIFO
Required: a. Prepare a production cost report using FIFO. (Round "Co. ter 8 6 Saved Problem 8-54 (Static) Prepare a Production Cost Report: FIFO Method (LO 8-4,5) 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 75,000 units made up of the following Degree of Amount Completion $192,000 100% Prior department costs transferred in from the Molding Department Costs added by the Assembling Department Direct materials Direct labor Manufacturing overhead 100% 60% $120,000 43,200 27,600 $190,800 $382.800 50% Work in process, April 1 During April, 375,000 units were transferred in from the Molding Department at a cost of $960,000. The Assembling Department added the following costs Direct materials $576,000 Direct labor 216,000 Manufacturing 113,400 overhead Total costs added $905, 400 Assembling finished 300,000 units and transferred them to the Packaging Department. At April 30, 150,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at April 30 was as follows. 90 Direct materials Direct labor Manufacturing overhead Required: .. Prepare a production cost report using FFO Round Cost per equivalent unit to 2 decimal places.) KANSAS SUPPLIES Assembling Department Production Cost Report FIFO Prior Untecosts Department Materials Labor Manufacturing Overhead Unes started this period Tot units to be accounted 50000 Check my work mode: This shows what is correct or incorrect for the work you ha Assembling Department Production Cost Report--FIFO Prior Physical Total Department Units Costs Costs Materials Labor Manufacturing Overhead 75.000 375,000 450,000 Flow of Production Units 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 996. 93. Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for SXS4 S82 1359 10 S $ 0.46X Cost per equivalent unit: Prior department costs Materials Labor Manufacturing overhead $ 0.60X XS 2X 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 Tot costs of units transferred out costs assigned to ending WIP inventory Prior department costs Materiais Labor Manufacturing overhead Total ending WIP inventory Total costs accounted for Peces Peetee
