Question: I know how to work out this problem in the weighted average method but I'm required to know to do it the FIFO method for

 I know how to work out this problem in the weightedaverage method but I'm required to know to do it the FIFOmethod for an up coming final. This question is specifically for the

I know how to work out this problem in the weighted average method but I'm required to know to do it the FIFO method for an up coming final. This question is specifically for the FIFO method not Weighted Average.

FIFO method not Weighted Average. Kansas Supplies is a manufacturer of plasticparts that uses the weighted-average process costing method to account for costsof production. It produces parts in three separate departments: Molding, Assembling, andPackaging. The following information was obtained for the Assembling Department for 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 118,000 units made up of the following: Degree of Amount Completion Prior department costs transferred in from the Molding Department $ 173,460 100% Costs added by the Assembling Department Direct materials $ 106,200 100% Direct labor 51 ,496 70% Manufacturing overhead 26,406 50% $ 184,102 Work in process, April 1 $ 30 During April, 518,000 units were transferred in from the Molding Department at a cost of $761 ,460. The Assembling Department added the following costs: Direct materials $ 446,580 Direct labor 244,704 Manufacturing overhead 121,884 Total costs added $ 813,168 Assembling nished 418,000 units and transferred them to the Packaging Department. At April 30, 218,000 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 FIFO. (Round "Cost per equivalent unit" to 2 decimal places.) Units to be accounted for: Beginning WIP inventory Units started this period Total units to be accounted for Units accounted for: Units completed and transferred out: From beginning inventory Started and completed currently Units in ending WIP inventory Total units accounted for Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted Cost per equivalent unit: Prior department costs Materials Labor Manufacturing overhead Costs accounted for: Costs assigned to units transferred out: Costs from beginning WIP inventory Current costs added to complete beginning WIP inventory: Prior department costs Materials Labor Manufacturing overhead Total costs from beginning inventory Current costs of units started and completed: Prior department costs Materials Labor Manufacturing overhead Total costs of units started and completed 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

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