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 102,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 133,620 100 % Costs added by the Assembling Department Direct materials $ 76,500 100 % Direct labor 31,264 70 % Manufacturing overhead 23,734 50 % $ 131,498 Work in process, April 1 $ 265,118 During April, 502,000 units were transferred in from the Molding Department at a cost of $657,620. The Assembling Department added the following costs. Direct materials $ 361,350 Direct labor 137,816 Manufacturing overhead 118,076 Total costs added $ 617,242 Assembling finished 402,000 units and transferred them to the Packaging Department. At April 30, 202,000 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 90 % Direct labor 80 Manufacturing overhead 35 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

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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 102,000 units made up of the following.

	Amount	Degree of Completion
Prior department costs transferred in from the Molding Department	$	133,620	100	%
Costs added by the Assembling Department
Direct materials	$	76,500	100	%
Direct labor		31,264	70	%
Manufacturing overhead		23,734	50	%
	$	131,498
Work in process, April 1	$	265,118

During April, 502,000 units were transferred in from the Molding Department at a cost of $657,620. The Assembling Department added the following costs.