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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
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. Problem 4-26 Straightforward Weighted Average Process Costing Step by Step Approach (LO 4-3, 44,4-5) 2 Total c alent units conversion 226,000 $120,000 34,400 $154,900 200.000 190,000 ------------ Work in process, June 1-50.000 unts: Direct matortat 100% complo, cost of Conversion: 40% complete cost of Balance in work in process. Juno 1 Unis started during June Untis completed during June and transferred out to finished goods inventory... Work in process, June 30 Direct material 100% complete Conversion: 60% completo Costs Incured during June Direct material Conversion costs Direct labor Applled manufacturing overhead Total conversion costs 5492,500 $ 87,450 262350 5249900 Required: Prepare schedules to accomplish cach 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
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