Problem 8-49 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 105,000 units made up of the following: Degree of Cornaletion 100% Amount Prior department costs transferred in from the Malding Department S 140,700 Casts added by the Assembling Department Direct materials S 88,200 Direct labor 36,370 Manufacturing overhead 17,470 S 142.040 Work in process, April 1 S 242,740 100% 70% 50% During April, 505.000 units were transferred in from the Molding Department at a cost of $676,700. The Assembling Department added the following costs: Direct materials Dinert abor Manufacturing overhead Total costs added S 406.980 166,470 104.290 S 679,730 Assembling finished 405,000 units and transferred them to the Packaging Department Al April 30, 205,000 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: 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 Flow of Production Units Physical Units Prior Department Materials Labor Manufacturing Unitsa be accounted for Bearning WP inventory Uislerid this will Total unts to be el for Units accountad for Unrs completed and transferred out From beginning inventory Started and completed currendy Unis in erwire WP inventory Talun he scounted for 0 0 0 0 0 Costs DETAILS Prior Total Costs Department Materials Labor Manufacturing Overhead Casts Corts to be accounted for Costs in beginning WP inventory Current periodonta Total costs to be accounted s a S O O Cost per equivalent unit: Prior department costs Materials Manufacturing overhead DETAILS Peler Total Costs Department Costs Materials Labar Manufacturing Overhead Costs accounted for: Cosis assigned to units transferred out: Costs from becinning WP inventory Current cools addec lo complete beginning WIP inventory Price department coats Materials HI Labor Manulaturing overhead Total costs from beginning inventory Current cust of units lared and completed: Pric department coats Materials Labor Manufacturing overhead Total costs of units started and completed Total cels of units transferred cut Cuels assigned lo encing WP inventory Priar department costs Materials Labor Manufacture overhead Total ending WIP inventory Tolal els accounted for $ $ 0 0 $ D $ $ $ 0 $ 0