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 104,000 units made up of the following. Degree of Completion Amount Prior departnent costs transferred in from the Molding Department Costa added by the Assembling Department Direct materials $138,320 100 $ 88,400 31,528 1004 Direct labor 60 Manufacturing overhead 21,264 $141,192 Work in procesn, April 1 $279,512 During April, 504,000 units were transferred in from the Molding Department at a cost of $670,320. The Assembling Department added the following costs. Direct materials Direct labor $393,720 159,852 95,036 $648,600 Manufacturing overhead Total costs added Assembling finished 404,000 units and transferred them to the Packaging Department. At April 30, 204,000 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 80 Direct labor 70 Manufacturing overhead 30 Required: a. Prepare a production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.)
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 104,000 units made up of the following. Degree of Completion Amount Prior departnent costs transferred in from the Molding Department Costa added by the Assembling Department Direct materials $138,320 100 $ 88,400 31,528 1004 Direct labor 60 Manufacturing overhead 21,264 $141,192 Work in procesn, April 1 $279,512 During April, 504,000 units were transferred in from the Molding Department at a cost of $670,320. The Assembling Department added the following costs. Direct materials Direct labor $393,720 159,852 95,036 $648,600 Manufacturing overhead Total costs added Assembling finished 404,000 units and transferred them to the Packaging Department. At April 30, 204,000 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 80 Direct labor 70 Manufacturing overhead 30 Required: a. Prepare a production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 20E: Holmes Products, Inc., produces plastic cases used for video cameras. The product passes through...
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