Problem 8-54 (Algo) 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 the month of April.

Work in process on April 1 had 113,000 units made up of the following.

	Amount			Degree of Completion
Prior department costs transferred in from the Molding Department	$	160,460			100	%
Costs added by the Assembling Department
Direct materials	$	101,700			100	%
Direct labor		45,681			70	%
Manufacturing overhead		24,192			50	%
	$	171,573
Work in process, April 1	$	332,033

During April, 513,000 units were transferred in from the Molding Department at a cost of $728,460. The Assembling Department added the following costs.

Direct materials	$	442,530
Direct labor		216,849
Manufacturing overhead		150,178
Total costs added	$	809,557

Assembling finished 413,000 units and transferred them to the Packaging Department.

At April 30, 213,000 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	40

Required:

a. Prepare a production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.)