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 the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
Physical | Total | Prior Dept | Manu. | ||||||
Units | costs | Costs | Materials | Labor | OH | ||||
Flow of production of units | |||||||||
Units to be accounted for | |||||||||
Beginning WIP | 75000 | ||||||||
Units started this period | 375000 | ||||||||
Total units to be accounted for | 450000 | ||||||||
Units accounted for | |||||||||
Units completed and transferred out | |||||||||
From beginning WIP | 75000 | ||||||||
Started and completed currently | 225000 | ||||||||
Total transferred out | 300000 | ||||||||
Units in ending WIP | 150000 | ||||||||
Total units accounted for | 450000 | ||||||||
Costs to be accounted for | |||||||||
Costs in beginning WIP | $ 382,800.00 | $ 192,000.00 | $ 120,000.00 | $ 43,200.00 | $ 27,600.00 | ||||
Current period costs | $ 1,865,400.00 | $ 960,000.00 | $ 576,000.00 | $ 216,000.00 | $ 113,400.00 | ||||
Total costs to be accounted for | $ 2,248,200.00 | $ 1,152,000.00 | $ 696,000.00 | $ 259,200.00 | $ 141,000.00 | ||||
Cost per equivalent units | |||||||||
Prior department costs | $ 2.56 | ||||||||
Materials | $ 1.60 | ||||||||
Labor | $ 0.64 | ||||||||
OH | $ 0.40 | ||||||||
Costs accounted for | |||||||||
Costs assigned to units transferred out | |||||||||
Prior department costs | $ 768,000.00 | $ 768,000.00 | |||||||
Materials | $ 480,000.00 | $ 480,000.00 | |||||||
Labor | $ 192,000.00 | $ 192,000.00 | |||||||
OH | $ 120,000.00 | $ 120,000.00 | |||||||
Total costs of units transferred out | $ 1,560,000.00 | $ 768,000.00 | $ 480,000.00 | $ 192,000.00 | $ 120,000.00 | ||||
Costs assigned to ending WIP | |||||||||
Prior department costs | $ 384,000.00 | $ 384,000.00 | |||||||
Materials | $ 216,000.00 | $ 216,000.00 | |||||||
Labor | $ 67,200.00 | $ 67,200.00 | |||||||
OH | $ 21,000.00 | $ 21,000.00 | |||||||
Total ending WIP | $ 688,200.00 | $ 384,000.00 | $ 216,000.00 | $ 67,200.00 | $ 21,000.00 | ||||
Total costs accounted for | $ 2,248,200.00 |
Workings:
Statement of Equivalent Units
Prior Dept | Manu. | ||||||
Total Units | Costs | Materials | Labor | OH | |||
Completed and transferred out | 300000 | 300000 | 300000 | 300000 | 300000 | ||
Ending WIP | 150000 | 150000 | 135000 | 105000 | 52500 | ||
Total | 450000 | 450000 | 435000 | 405000 | 352500 |
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to...
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 103,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 135,960 100 % Costs added by...
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 120,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 178,800 100 % Costs added by...
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: Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 138,320 100 % Costs added by...
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...
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 115,000 units made up of the following: Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 165,600 100 % Costs added by...
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. AmountDegree of CompletionPrior department costs transferred in from the Molding Department$133,620100%Costs added by the Assembling DepartmentDirect materials$76,500100%Direct labor31,26470%Manufacturing overhead23,73450%$131,498Work in process, April...
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