PROBLEM 5-47 STEPS IN PREPARING A PRODUCTION REPORT L01 LO2 LO3 104 Recently, Blair Designs expanded its market by becoming an original equipment supplier to Smith Pty Ltd. Blair Designs produces factory upgraded speakers specifically for Smith Pty Ltd. The speaker cabinets and associated components are outsourced with assembly remaining in-house. Blair Designs assemble the product by placing the speakers and other components in cabinets that define an audio package upgrade. Speaker cabinets and associated components are added at the beginning of the assembly process. Assume that Blair 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 Production: Units in process, 1 April, 60% complete 600 000 Units completed and transferred out 1 500 000 Units in process, 30 April, 20% complete 300 000 Costs: WIP, 1 April: Cabinets $ 1 200 000 Components 12 600 000 Conversion costs 5 400 000 Costs added during April: Cabinets $ 2 400 000 Components 25 200 000 Conversion costs 8640 000 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.