Please help I am having issues solving this problem,    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 108,000 units made up of the following.     Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 147,960     100 % Costs added by the Assembling Department             Direct materials $ 97,200     100 % Direct labor   35,696     60 % Manufacturing overhead   22,244     50 %   $ 155,140         Work in process, April 1 $ 303,100             During April, 508,000 units were transferred in from the Molding Department at a cost of $695,960. The Assembling Department added the following costs.           Direct materials $ 419,760   Direct labor   185,744   Manufacturing overhead   100,556   Total costs added $ 706,060       Assembling finished 408,000 units and transferred them to the Packaging Department.   At April 30, 208,000 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 80 % Direct labor 70   Manufacturing overhead 40       Required: Prepare a production cost report using the weighted-average method.(Round "Cost per equivalent unit" to 2 decimal places.)

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Please help I am having issues solving this problem, 

 

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 108,000 units made up of the following.

 

 

Amount

Degree of Completion

Prior department costs transferred in from the Molding Department

$

147,960

 

 

100

%

Costs added by the Assembling Department

 

 

 

 

 

 

Direct materials

$

97,200

 

 

100

%

Direct labor

 

35,696

 

 

60

%

Manufacturing overhead

 

22,244

 

 

50

%

 

$

155,140

 

 

 

 

Work in process, April 1

$

303,100

 

 

 

 

 

 

During April, 508,000 units were transferred in from the Molding Department at a cost of $695,960. The Assembling Department added the following costs.

 

 

 

 

 

Direct materials

$

419,760

 

Direct labor

 

185,744

 

Manufacturing overhead

 

100,556

 

Total costs added

$

706,060

 

 

 

Assembling finished 408,000 units and transferred them to the Packaging Department.

 

At April 30, 208,000 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

80

%

Direct labor

70

 

Manufacturing overhead

40

 

 

 

Required:

  1. Prepare a production cost report using the weighted-average method.(Round "Cost per equivalent unit" to 2 decimal places.)
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 108,000 units made up of the following.
Degree of
Completion
Amount
Prior department costs transferred in from the Molding
Department
$ 147,960
100%
Costs added by the Assembling Department
97,200
35,696
Direct materials
100%
Direct labor
60응
Manufacturing overhead
22,244
50응
$ 155,140
Work in process, April 1
$ 303,100
During April, 508,000 units were transferred in from the Molding Department at a cost of $695,960. The Assembling Department
added the following costs.
419,760
185,744
100,556
Direct materials
Direct labor
Manufacturing overhead
Total costs added
$ 706,060
Assembling finished 408,000 units and transferred them to the Packaging Department.
At April 30, 208,000 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
80응
Direct labor
70
Manufacturing overhead
40
Required:
a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
Transcribed Image Text: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 108,000 units made up of the following. Degree of Completion Amount Prior department costs transferred in from the Molding Department $ 147,960 100% Costs added by the Assembling Department 97,200 35,696 Direct materials 100% Direct labor 60응 Manufacturing overhead 22,244 50응 $ 155,140 Work in process, April 1 $ 303,100 During April, 508,000 units were transferred in from the Molding Department at a cost of $695,960. The Assembling Department added the following costs. 419,760 185,744 100,556 Direct materials Direct labor Manufacturing overhead Total costs added $ 706,060 Assembling finished 408,000 units and transferred them to the Packaging Department. At April 30, 208,000 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 80응 Direct labor 70 Manufacturing overhead 40 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-Weighted Average
Prior Department
Costs
Manufacturing
Overhead
Physical Units
Total Costs
Materials
Labor
Flow of Production Units
Units to be accounted for:
Beginning WIP inventory
108,000
Units started this period
508,000
Total units to be accounted for
616,000
Units accounted for:
Units completed and transferred out:
From beginning inventory
108,000
Started and completed currently
300,000
Total transferred out
408,000
300,000
300,000
300,000
300,000
Units in ending WIP inventory
208,000
208,000
166,400
145,600
83,200
Total units accounted for
616,000
508,000
466,400
445,600
383,200
Costs to be accounted for:
Costs in beginning WIP inventory
Current period costs
Total costs to be accounted for
2$
$
0 $
$
Cost per equivalent unit:
Prior department costs
Materials
Labor
Manufacturing overhead
Costs accounted for:
Costs assigned to units transferred out:
Prior department costs
Materials
Labor
Manufacturing overhead
Total costs of units transferred out
$
Costs assigned to ending WIP inventory:
Prior department costs
Materials
Labor
Manufacturing overhead
Total ending WIP inventory
$
Total costs accounted for
$
이 $
$
이 $
0 $
Transcribed Image Text:KANSAS SUPPLIES Assembling Department Production Cost Report-Weighted Average Prior Department Costs Manufacturing Overhead Physical Units Total Costs Materials Labor Flow of Production Units Units to be accounted for: Beginning WIP inventory 108,000 Units started this period 508,000 Total units to be accounted for 616,000 Units accounted for: Units completed and transferred out: From beginning inventory 108,000 Started and completed currently 300,000 Total transferred out 408,000 300,000 300,000 300,000 300,000 Units in ending WIP inventory 208,000 208,000 166,400 145,600 83,200 Total units accounted for 616,000 508,000 466,400 445,600 383,200 Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for 2$ $ 0 $ $ Cost per equivalent unit: Prior department costs Materials Labor Manufacturing overhead Costs accounted for: Costs assigned to units transferred out: Prior department costs Materials Labor Manufacturing overhead Total costs of units transferred out $ Costs assigned to ending WIP inventory: Prior department costs Materials Labor Manufacturing overhead Total ending WIP inventory $ Total costs accounted for $ 이 $ $ 이 $ 0 $
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