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 111,000 units made up of the following. Degree of Completion Amount Prior department costs transferred in from the Molding Department Costs added by the Assembling Department Direct materials $155,400 100% $ 99,900 45,007 100% 70% Direct labor Manufacturing overhead 25,026 50% $169,933 Work in process, April 1 $325,333 During April, 511,000 units were transferred in from the Molding Department at a cost of $715,400. The Assembling Department added the following costs. $440,910 215,903 117, 264 Direct materials Direct labor Manufacturing overhead Total costs added $774,077 Assembling finished 411,000 units and transferred them to the Packaging Department. At April 30, 211,000 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 30

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 111,000 units made up of the following. Degree of Completion Amount Prior department costs transferred in from the Molding Department Costs added by the Assembling Department Direct materials $155,400 100% $ 99,900 45,007 100% 70% Direct labor Manufacturing overhead 25,026 50% $169,933 Work in process, April 1 $325,333 During April, 511,000 units were transferred in from the Molding Department at a cost of $715,400. The Assembling Department added the following costs. $440,910 215,903 117, 264 Direct materials Direct labor Manufacturing overhead Total costs added $774,077 Assembling finished 411,000 units and transferred them to the Packaging Department. At April 30, 211,000 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 30

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Description: 4Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs ofproduction. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following informati

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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