Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been complled for the month

Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The
following data have been complled for the month of June. Conversion actlvity occurs unlformly throughout the production process.
Work in process, June 1-50,000 units:
Direct material: 100% complete, cost of $187,500
Conversion: 40% complete, cost of
Balance in work in process, June 1
Units started during June
94,$281,52,
Units completed during June and transferred out to finished-goods inventory 210,090
Work in process, June 30 :
Direct material: 109% complete
Conversion: 60% complete
Costs incurred during June:
Direct material
Conversion costs:
Direct labor
Applied manufacturing overhead
Total conversion costs
=$487,5theta e
Total conversion costs
$81,800
Required:
Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the welghted-average
method of process costing.
Analysis of physical flow of units.
Calculation of equivalent units.
Computation of unit costs.
Analysis of total costs.
Complete this question by entering your answers in the tabs below.
Computation of unit costs. (Round "Cost per equivalent unit" to 2 decimal places.)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting International Financial Reporting Standards Global Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

11th Edition

9781292211145

More Books

Students also viewed these Accounting questions

Question

=+1. How will you measure awareness objectives?

Answered: 1 week ago

Question

=+2. How will you measure acceptance objectives?

Answered: 1 week ago

Question

What distinguishes craft and industrial unions from each other?

Answered: 1 week ago