Kansas Supplies is a manufacturer of plastic parts that uses the weighted average process costing method to account for

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Kansas Supplies Is A Manufacturer Of Plastic Parts That Uses The Weighted Average Process Costing Method To Account For 1 (28.07 KiB) Viewed 9 times

Kansas Supplies Is A Manufacturer Of Plastic Parts That Uses The Weighted Average Process Costing Method To Account For 2 (55 KiB) Viewed 9 times

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 Prior department costs transferred in from the Molding Department Costs added by the Assembling Department Direct materials Direct labor Manufacturing overhead Work in process, April 1 Direct materials Direct labor Manufacturing overhead Total costs added 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. $576,000 216,000 113,400 $905,400 Direct materials Direct Inbor Manufacturing overhead Amount $192,000 90% 70 $120,000 43,200 27,400 $190,800 $382,800 35 Ima) Degree of Completion 100% 100% 604 50% 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. Required: a. Prepare a production cost report using the weighted average method. (Round "Cost per equivalent unit" to 2 decimal places.)
a. Prepare a production cost report using the weigneu-average meiou (round cost per equivalent on todecimar places. Flow of Production Units Units 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 Total transferred out Units in ending WIP inventory Total units accounted for Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for Cost per equivalent unit: Prior department costs Materials Labor Manufacturing overhead 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 KANSAS SUPPLIES Assembling Department Production Cost Report-Weighted-Average Prior Physical Units Total Costs Department Materials Costs 75.000 375,000 450,000 75,000 225,000 300,000 150,000 450.000 $ $ 382,800 $ 192,000 $120,000 $ 43,200 $ 1,865,400 960,000 576,000 216,000 $ 2,248,200 $ 1,152,000 $696.000 $259,200 $ $ S 0 0 150,000 135,000 150,000 135,000 s 2.56 S 1.60 OS Labor O 3 105,000 105,000 0.60 0$ S Manufacturing Overhead 52,500 52,500 27,600 113,400 141,000 036