Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been compiled for the month of June. Conversion activity occurs uniformly throughout the production process. Work in process, June 1-50,000 units: Direct material: 100% complete, cost of Conversion: 40% complete, cost of $155,500 59,000 Balance in work in process, June 1 $214,500 Units started during June Units completed during June and transferred out to finished-goods inventory 190,000 200,000 Work in process, June 30: Direct material: 100% complete Conversion: 60% complete Costs incurred during June: Direct material Conversion costs: Direct labor Applied manufacturing overhead Total conversion costs $492,500 $ 80,450 241,350 $321,800 Required: Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the weighted-average method of process costing. 1. Analysis of physical flow of units. 2. Calculation of equivalent units. 3. Computation of unit costs. 4. Analysis of total costs. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Analysis of physical flow of units. Total units to account for Total units accounted for Required 1 Physical Units 0 0 Required 2 >
Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been compiled for the month of June. Conversion activity occurs uniformly throughout the production process. Work in process, June 1-50,000 units: Direct material: 100% complete, cost of Conversion: 40% complete, cost of $155,500 59,000 Balance in work in process, June 1 $214,500 Units started during June Units completed during June and transferred out to finished-goods inventory 190,000 200,000 Work in process, June 30: Direct material: 100% complete Conversion: 60% complete Costs incurred during June: Direct material Conversion costs: Direct labor Applied manufacturing overhead Total conversion costs $492,500 $ 80,450 241,350 $321,800 Required: Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the weighted-average method of process costing. 1. Analysis of physical flow of units. 2. Calculation of equivalent units. 3. Computation of unit costs. 4. Analysis of total costs. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Analysis of physical flow of units. Total units to account for Total units accounted for Required 1 Physical Units 0 0 Required 2 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The
following data have been compiled for the month of June. Conversion activity occurs uniformly throughout the production process.
Work in process, June 1-50,000 units:
Direct material: 100% complete, cost of
Conversion: 40% complete, cost of
$155,500
59,000
Balance in work in process, June 1
$214,500
Units started during June
Units completed during June and transferred out to finished-goods inventory
190,000
200,000
Work in process, June 30:
Direct material: 100% complete
Conversion: 60% complete
Costs incurred during June:
Direct material
Conversion costs:
Direct labor
Applied manufacturing overhead
Total conversion costs
$492,500
$ 80,450
241,350
$321,800
Required:
Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the weighted-average
method of process costing.
1. Analysis of physical flow of units.
2. Calculation of equivalent units.
3. Computation of unit costs.
4. Analysis of total costs.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Required 3 Required 4
Analysis of physical flow of units.
Total units to account for
Total units accounted for
Required 1
Physical Units
0
0
Required 2 >
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