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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Problem 17-48Â STEPS FOR A COST OF PRODUCTION Â REPORT
The owner of Stillwater Designs was pleased with the prospect of becoming an original equipment supplier to DaimlerChrysler. Stillwater designs will provide an audio package for the Dodge Neon SRT4 line. Assembling the plastic cabinets, speakers, and amplifiers for this audio package will be done in-house.
Assume that Stillwater Designs uses the weighted average method to cost out the audio package. The following are cost and production data for the assembly process for April:
Â
|
Production: Units in process, April 1, 60 percent  complete |
 40,000 |
|
Units completed and transferred  out |
100,000 |
|
Units in process, April 30, 20 percent  complete |
20,000 |
|
Costs: WIP, April 1: Plastic cabinets |
  $     800,000 |
|
Kicker components |
8,400,000 |
|
Conversion costs |
3,600,000 |
|
Costs added during April: |
 |
|
Plastic cabinets |
$ 1,600,000 |
|
Kicker components |
16,800,000 |
|
Conversion costs |
5,760,000 |
Â
Required:
1.       Prepare a cost of production report for the assembly department for the month of April.
2.       Write a one-page report that compares the purpose and content of the cost of pro- duction report with the job-order cost sheet.
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