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Problem 8-54 (Algo) Prepare a Production Cost Report: FIFO Method (LO 8-4, 5) Kansas Supplies is a manufacturer of plastic parts that uses the
Problem 8-54 (Algo) 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, produces parts in three separate departments: Molding, Assembling, and Packaging The following information w obtained for the Assembling Department for the month of Apri Work in process on Apr 1 had 118,000 units made up of the following Completion Malding Department Costs and by the Asseling Depart Direct ateriat Direct labor Manufacturing Mrk in process, April m 2 During April 518,000 units were transferred in from the Molding Deportinent at a cost of $701480 The Assembling Deportment added the following costs Direct Manufacturing overheat total costs added $440, 500 244,794 Assemming finished 418 000 units and wandened them to the Packaging Department At Apr 30, 28 000 units were follows work in process inventory The degree of completion of work in process inventory on Apr 30
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