TIA!
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 Completion 100% Amount Prior department costs transferred in from the Molding Department $192,000 Costs added by the Assembling Department Direct materials $120,000 Direct labor 43,209 Manufacturing overhead 27,600 $190, 880 Work in process, April 1 $382,800 100% 60% 50% 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 Direct labor Manufacturing overhead Total costs added $576,000 216,000 113,400 $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 Direct materials Direct labor Manufacturing overhead 90% 70 35 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 Physical Unit+ Total Costs Prior Department Costs Materials Labor Manufacturing Overhead Flow of Production Units Units to be accounted for Beginning WIP Inventory Units started this period 75.000 375.000 Required: a. Prepare a production cost report using FIFO, (Round "Coxt per equivalent unit" to 2 decimal places.) KANSAS SUPPLIES Asembling Charten Production Cont Report Playscal Units Total Costs Prior Department Costs Materials Labor Manufacturing Overhead 75.000 375.000 450.000 Flow of Production Units Linis 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 Unitsin ending WIP inventory Total units accounted for 75.000 150.000 225.000 0 23 382,800 Costs to be counted for Costs in beginning Weinventory Current period costs Total costs to be Scout for $ 383.BOS 05 os os Cos per cuivalent Prior department coats Materials Labor Vanung overed WCF VOCH.mheducation Current period posts Totalcouts to be counted for 5 302.800 5 os 05 o Cod per equivalent unit: Prior department costs Materials Labor Manufacturing overhead Costs accounted for Costs assigned to units transferred out Costs from beginning WIP inventory Current costs added to complete beginning WP inventory Prior department costs Materials Labor Manufacturing overhead Total costs from beginning inventory Current costs of units started and completed: Prior department costs Materials 3 0 Labor Manufacturing overhead Total costs of units started and completed Total costs of units transferred out Costs assigned to ending WIP Inventory Prior department costs Materials Labor Manufacturing overhead Total ending wil inventory
