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Question: piscataway plastics company manufactures a highly specialized plastic that is...

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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

$

292,500

Conversion: 40% complete, cost of

159,200

Balance in work in process, June 1

$

451,700

Units started during June

240,000

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

$

487,500

Conversion costs:

Direct labor

$

81,800

Applied manufacturing overhead

245,400

Total conversion costs

$

327,200

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.

OPTIONS:

  • Direct-material costs
  • Units completed and transferred out during June
  • Units started during June
  • Work in process, June 1
  • Work in process, June 30
  • Conversion costs
  • Costs incurred during June

Analysis of physical flow of units.

Physical Units

Total units to account for

Total units accounted for

Calculation of equivalent units.

Equivalent Units

Physical Units

Direct Material

Conversion

Total units accounted for

Total equivalent units

Computation of unit costs. (Round "Cost per equivalent unit" to 2 decimal places.)

Direct Material

Conversion

Total

Total costs to account for

Equivalent units

Costs per equivalent unit

Analysis of total costs. (Round "Cost per equivalent unit" to 2 decimal places.)

Number of Equivalent Units

Cost per Equivalent Unit

Total Cost

Cost of goods completed and transferred

Direct material (Ending WIP Inventory)

Conversion (Ending WIP Inventory)

Total costs accounted for

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