Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the weighted-average method of process costing.

Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the weighted-average method of process costing.

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.


Price: £ 45

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