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.
| Amount | Degree of Completion | |||||
| Prior department costs transferred in from the Molding Department | $ | 133,620 | 100 | % | ||
| Costs added by the Assembling Department | ||||||
| Direct materials | $ | 76,500 | 100 | % | ||
| Direct labor | 31,264 | 70 | % | |||
| Manufacturing overhead | 23,734 | 50 | % | |||
| $ | 131,498 | |||||
| Work in process, April 1 | $ | 265,118 | ||||
During April, 502,000 units were transferred in from the Molding Department at a cost of $657,620. The Assembling Department added the following costs.
| Direct materials | $ | 361,350 | |
| Direct labor | 137,816 | ||
| Manufacturing overhead | 118,076 | ||
| Total costs added | $ | 617,242 | |
Assembling finished 402,000 units and transferred them to the Packaging Department.
At April 30, 202,000 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 | 80 | |
| Manufacturing overhead | 35 | |
Required:
a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
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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 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...
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 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 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...
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...
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...
Hello. PLEASE complete all the blanks and set it up just like this review problem. We...
Hello. PLEASE complete all the
blanks and set it up just like this review problem. We need FIFO
AND WEIGHTED AVERAGE METHOD.
Required: a. Prepare a production cost report using the weighted average method. (Round "Cost per equivalent unit" to 2 decimal places.) 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-FIFO Prior Physical Units Costs Department Materials Costs Total Labor...
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...
Intrepid Industries manufactures sterile parts used in medical equipment. The company uses the weighted-average process costing...
Intrepid Industries manufactures sterile parts used in medical
equipment. The company uses the weighted-average process costing
method to account for production costs. It produces parts in three
different departments: Forming, Sterilization, and Assembling. The
following information was reported for the Assembling Department
for the month of June: Beginning work-in-progress inventory on June
1 had 250,000 units made up of the following: Amount Degree of
Completion Prior department costs transferred in from the Forming
Department $387,600 100% Costs added by the...
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 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 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...
Hello. PLEASE complete all the
blanks and set it up just like this review problem. We need FIFO
AND WEIGHTED AVERAGE METHOD.
Required: a. Prepare a production cost report using the weighted average method. (Round "Cost per equivalent unit" to 2 decimal places.) 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-FIFO Prior Physical Units Costs Department Materials Costs Total Labor...
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...
Intrepid Industries manufactures sterile parts used in medical
equipment. The company uses the weighted-average process costing
method to account for production costs. It produces parts in three
different departments: Forming, Sterilization, and Assembling. The
following information was reported for the Assembling Department
for the month of June: Beginning work-in-progress inventory on June
1 had 250,000 units made up of the following: Amount Degree of
Completion Prior department costs transferred in from the Forming
Department $387,600 100% Costs added by the...
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