Required: Prepare schedules to accomplish each of the following process-costing steps for the month c 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.
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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![Required:
Prepare schedules to accomplish each of the following process-costing steps for the month of Jun
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 31 Required 4
Computation of unit costs. (Round "Cost per equivalent unit" to 2 decimal places.)
Direct
Material
Total costs to account for
Equivalent units
Costs per equivalent unit
S
Conversion
0 $
Required 2
S
0 S
S
Total
0
0
0
0
0.00
Required 4 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd5af1f8a-9b3b-4cfc-a7f4-0f80ea773760%2Fe5e5e2e5-7ac4-45d4-9921-5307a78f813b%2Frgqjre_processed.jpeg&w=3840&q=75)
![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 1-60,000 units:
Direct material: 100% complete, cost of
Conversion: 40% complete, cost of
Balance in work in process, June 1
Units started during June
Units completed during June and transferred out to finished-goods inventory
Work in process, June 30:
Direct material: 100% complete
Conversion: 60% complete
n
Costs incurred during June:
Direct material
Conversion costs:
Direct labor
Applied manufacturing overhead
Total conversion costs
ile ay
$268,500
153,600
$422,100
220,000
190,000
$487, 500
$83,600
250,000
$334,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd5af1f8a-9b3b-4cfc-a7f4-0f80ea773760%2Fe5e5e2e5-7ac4-45d4-9921-5307a78f813b%2Fmw9dh6b_processed.jpeg&w=3840&q=75)
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