This paper circulates around the core theme of Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the weighted-average method of process costing. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
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 (units)
|
50,000
|
Direct material: 100% complete cost of
|
120,000
|
Conversion: 40% complete, cost of
|
34,400
|
Balance in work in process, June 1
|
154,400
|
Units started during June
|
200,000
|
Units completed during June and transferred out to finished-goods inventory
|
190,000
|
Work in process, June 30:
|
|
Direct material: 100% complete
|
|
Conversion: 60% complete
|
|
Costs incurred during June:
|
|
Direct material
|
492,500
|
Conversion costs:
|
|
Direct labor
|
87,450
|
Applied manufacturing overhead
|
262,350
|
Total conversion costs
|
349,800
|
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.