question archive Kansas Supplies is a manufacturer of plastic parts that uses the weighted average process costing method to account for costs of production
Kansas Supplies is a manufacturer of plastic parts that uses the weighted average process costing method to account for costs of production
Subject:AccountingPrice: Bought3
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 108,000 units made up of the following. Degree of Completion Amount $147,960 100% Prior department costs transferred in from the Molding Department Costs added by the Assembling Department Direct materials Direct labor Manufacturing overhead $ 97,200 35,696 22,244 $155, 140 $303, 100 100% 60% 50% Work in process, April 1 During April, 508,000 units were transferred in from the Molding Department at a cost of $695,960. The Assembling Department added the following costs. Direct materials Direct labor Manufacturing overhead Total costs added $419,760 185, 744 100,556 $706,060 Assembling finished 408,000 units and transferred them to the Packaging Department At April 30, 208,000 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 80% 70 40 Required: a. Prepare a production cost report using the weighted average method. (Round "Cost per equivalent unit" to 2 decimal places.) KANSAS SUPPLIES Assembling Department Production Cost Report-Weighted Average Physical Units 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 Total units to be accounted for 0 Units accounted for: Units completed and transferred out: From beginning inventory Started and completed currently Total transferred out Units in ending WIP inventory Total units accounted for 0 0 0 0 0 Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for $ 0 $ OS 0 $ 0 $ 0 Cost per equivalent unit: Prior department costs Materials Labor Manufacturing overhead $ 0 Costs accounted for: Costs assigned to units transferred out: Prior department costs Materials Labor Manufacturing overhead Total costs of units transferred out Costs assigned to ending WIP inventory: Prior department costs Materials Labor Manufacturing overhead Total ending WIP inventory Total costs accounted for 0 $ $ 0 $ 0 $ 0 $ 0 $
