Question: Steps in Preparing a Production Report

Several years ago, Stillwater Designs expanded its market by becoming an original equipment supplier to DaimlerChrysler. At the time, DaimlerChrysler wanted to offer a high-end Kicker audio package for its Dodge Neon SRT4 line. As part of this effort, Stillwater Designs produced the plastic cabinet prototypes that housed the Kicker speakers and amplifiers. After producing the prototype cabinets, the production was outsourced while assembly remained in-house. Stillwater Designs assembled the product by placing the speakers and amplifiers (produced according to specifications by outside manufacturers) in the plastic cabinets. Plastic cabinets and Kicker speaker and amplifier components are added at the beginning of the assembly process. 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:

Required: 1. Prepare a physical flow analysis for the assembly department for the month of April.

2. Calculate equivalent units of production for the assembly department for the month of April.

3. Calculate unit cost for the assembly department for the month of April.

4. Calculate the cost of units transferred out and the cost of EWIP inventory.

5. Prepare a cost reconciliation for the assembly department for the month of April.