Question

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.

	Amount			Degree of Completion
Prior department costs transferred in from the Molding Department	$	192,000			100	%
Costs added by the Assembling Department
Direct materials	$	120,000			100	%
Direct labor		43,200			60	%
Manufacturing overhead		27,600			50	%
	$	190,800
Work in process, April 1	$	382,800

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	$	576,000
Direct labor		216,000
Manufacturing overhead		113,400
Total costs added	$	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	90	%
Direct labor	70
Manufacturing overhead	35

Required:

a. Prepare a production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.)

Assembling Department Production Cost Report-FIFO Prior Manufacturing Physical Units Total Department Materials Labor Costs Overhead Costs 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 Units in ending WIP inventory Total units accounted for 75,000 375,000 450,000 300,000 300,000 300,000 300,000 300,000 300,000 Costs to be accounted for: Costs in beginning WiIP inventory Current period costs Total costs to be accounted for 382,800 $ 382,800 0 $ 0S 0S S Cost 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 WIP inventory Prior department costs Materials Labor Manufacturing overhead Total costs from beginning inventory Current costs of units started and completed: Prior department costs Materials 0 Labor Manufacturing overhead Total costs of units started and 0 completed Total costs of units transferred out Costs assigned to ending WIP inventory Prior department costs Materials 0 Labor Manufacturing overhead Total ending WIP inventory Total costs accounted for 0S 0S

Answer 1

Kansas Supplies
Assembling Department
Production Cost Report-FIFO
	Physical Units	Total Costs	Prior Department Costs	Materials	Labor	Manufacturing Overhead
Flow of Production Units
Units to be accounted for:
Beginning WIP inventory	75000
Units started this period	375000
Total units to be accounted for	450000
Units accounted for:
Units completed and transferred out:
From beginning inventory	75000		0	0	30000	37500
Started and completed currently	225000		225000	225000	225000	225000
Units in ending WIP inventory	150000		150000	135000	105000	52500
Total units accounted for	450000		375000	360000	360000	315000
Costs to be accounted for:
Costs in beginning WIP inventory		382800	192000	120000	43200	27600
Current period costs		1865400	960000	576000	216000	113400
Total costs to be accounted for		2248200	1152000	696000	259200	141000
Costs per equivalent unit:
Prior department costs ($960000/375000)			2.56
Materials ($576000/360000)				1.60
Labor ($216000/360000)					0.60
Manufacturing overhead ($113400/315000)						0.36
Costs accounted for:
Costs assigned to units transferred out:
Costs from beginning WIP inventory		382800	192000	120000	43200	27600
Current costs added to complete beginning WIP inventory:
Prior department costs		0	0
Materials		0		0
Labor (30000 x $0.60)		18000			18000
Manufacturing overhead (37500 x $0.36)		13500				13500
Total costs from beginning inventory		414300
Current costs of units started and completed:
Prior department costs (225000 x $2.56)		576000	576000
Materials (225000 x $1.60)		360000		360000
Labor (225000 x $0.60)		135000			135000
Manufacturing overhead (225000 x $0.36)		81000				81000
Total costs of units started and completed		1152000
Total costs of units transferred out		1566300
Costs assigned to ending WIP inventory:
Prior department costs (150000 x $2.56)		384000	384000
Materials (135000 x $1.60)		216000		216000
Labor (105000 x $0.60)		63000			63000
Manufacturing overhead (52500 x $0.36)		18900				18900
Total ending WIP inventory		681900
Total costs accounted for		2248200