Hello. PLEASE complete all the
blanks and set it up just like this review problem. We need FIFO
AND WEIGHTED AVERAGE METHOD.
Homework Answers
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| Kansas Supplies | |||||||
| Assembling Department | |||||||
| Cost of Production Report- Weighted Average | |||||||
| Equivalent Units | |||||||
| Whole Units | Total costs | Prior Departmental costs | Materials | Labor | Manufacturing Overhead | ||
| Flow of production of units: | |||||||
| Units charged to production: | |||||||
| Opening Inventory in process | 75,000.00 | ||||||
| Units started in April | 375,000.00 | ||||||
| Total units to be accounted for | 450,000.00 | ||||||
| Units accounted for | |||||||
| Units completed and transferred out | |||||||
| From beginning Inventory | 75,000.00 | 75,000.00 | 75,000.00 | 75,000.00 | 75,000.00 | ||
| Started and completed currently | 225,000.00 | 225,000.00 | 225,000.00 | 225,000.00 | 225,000.00 | ||
| Units ending in WIP Inventory | 150,000.00 | 150,000.00 | 135,000.00 | 105,000.00 | 52,500.00 | This is Whole units* % pending to complete. | |
| Total Units accounted for | 450,000.00 | 450,000.00 | 435,000.00 | 405,000.00 | 352,500.00 | ||
| Costs to be accounted for | |||||||
| Costs in beginning WIP Inventory | 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 | ||
| Costs per equivalent unit | |||||||
| Prior Departmental costs | 2.56 | ||||||
| Materials | 1.60 | ||||||
| Labor | 0.64 | ||||||
| Manufacturing Overhead | 0.40 | ||||||
| Costs accounted for | |||||||
| Costs assigned to units transferred out | |||||||
| Costs assigned to beginning WIP inventory | |||||||
| Prior Departmental costs | 192,000.00 | ||||||
| Materials | 120,000.00 | ||||||
| Labor | 48,000.00 | ||||||
| Manufacturing Overhead | 30,000.00 | ||||||
| Costs assigned to beginning WIP inventory | 390,000.00 | 192,000.00 | 120,000.00 | 48,000.00 | 30,000.00 | ||
| Costs assigned to Started and completed currently | |||||||
| Prior Departmental costs | 576,000.00 | ||||||
| Materials | 360,000.00 | ||||||
| Labor | 144,000.00 | ||||||
| Manufacturing Overhead | 90,000.00 | ||||||
| Costs assigned to Started and completed currently | 1,170,000.00 | 576,000.00 | 360,000.00 | 144,000.00 | 90,000.00 | ||
| 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 inventory | |||||||
| Prior Departmental costs | 384,000.00 | ||||||
| Materials | 216,000.00 | ||||||
| Labor | 67,200.00 | ||||||
| Manufacturing Overhead | 21,000.00 | ||||||
| Total ending WIP inventory | 688,200.00 | 384,000.00 | 216,000.00 | 67,200.00 | 21,000.00 | ||
| Total Costs accounted for | 2,248,200.00 | 1,152,000.00 | 696,000.00 | 259,200.00 | 141,000.00 | ||
| Note: in Weighted Average method total cost (production+ Opening WIP) is allocated among equivalent units. |
| Started and completed in April: | ||
| Units completed in April | 300,000.00 | |
| Less: Opening Inventory | 75,000.00 | |
| Started and completed in April: | 225,000.00 |
Add Answer to:
Hello. PLEASE complete all the
blanks and set it up just like this review problem. We...
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...
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...
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...
PLEASE ANSWER ALL INCORRECT IN THE SAME FORMAT USING FIFO Required: a. Prepare a production cost...
PLEASE ANSWER ALL INCORRECT IN THE SAME FORMAT USING
FIFO
Required: a. Prepare a production cost report using FIFO. (Round "Co. ter 8 6 Saved Problem 8-54 (Static) Prepare a Production Cost Report: FIFO Method (LO 8-4,5) 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...
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 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...
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...
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...
Weighted Average Method
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...
FIFO
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 109,000 units made up of the following. AmountDegree of CompletionPrior department costs transferred in from the Molding Department$150,420100%Costs added by the Assembling DepartmentDirect materials$87,200100%Direct labor40,51870%Manufacturing overhead18,00650%$145,724Work in process, April...
Problem 6-46 FIFO Method; Two Departments [LO 6-2, 6-5, 6-6] Bhatti Company produces plastic photo frames....
Problem 6-46 FIFO Method; Two Departments [LO 6-2, 6-5, 6-6] Bhatti Company produces plastic photo frames. Two departments, molding and finishing, are involved in the manufacturing. The E molding department fills the molds with hot liquid plastic that is left to cool and then opens them. The finishing department removes the plastic frame from the mold and strips the edges of the frames of extra plastic. The following information is available for the month of January: Work-in-Process Inventory Molding department...
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...
PLEASE ANSWER ALL INCORRECT IN THE SAME FORMAT USING
FIFO
Required: a. Prepare a production cost report using FIFO. (Round "Co. ter 8 6 Saved Problem 8-54 (Static) Prepare a Production Cost Report: FIFO Method (LO 8-4,5) 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...
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 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...
Problem 6-46 FIFO Method; Two Departments [LO 6-2, 6-5, 6-6] Bhatti Company produces plastic photo frames. Two departments, molding and finishing, are involved in the manufacturing. The E molding department fills the molds with hot liquid plastic that is left to cool and then opens them. The finishing department removes the plastic frame from the mold and strips the edges of the frames of extra plastic. The following information is available for the month of January: Work-in-Process Inventory Molding department...
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