Plasto Corporation manufactures a molded chairs, which are all variations of the same design, are Standard (can be stacked), Deluxe (with arms), and Executive (with arms and padding). The company uses batch manufacturing and has an operation-costing system. The production process includes an extrusion operation and subsequent operations to form, trim, and finish the chairs. Plastic sheets are produced by the extrusion operation, some of which are sold directly to other manufacturers. During the forming operation, the remaining plastic sheets are molded into chair seats and the legs are added, the Standard model is sold after this operation. During the trim operation, the arms are added to the Deluxe and Executive models and the chair edges are smoothed. Only the Executive model enters the finish operation where the padding is added. All of the units produced receive the same steps within each operation. The May production run had a total manufacturing cost of $1,096,270. The units of production and direct-material costs incurred were as follows: variety of plastic products, including a series of molded chairs. The three models of Extrusion Produced Materials S 59,800 79,300 44,200 20,800 $204,100 Units Trim Finish Form Materials Materials Materials Plastic sheets 4,600 6,100 3,400 1,600 $30,500 17,000 8,000 $55,500 Standard model $13,600 6,400 $20,000 Deluxe model Executive model $11,200 $11,200 15,700 Total Manufacturing costs applied during the month of May were as follows: Extrusion Operation $ 299,870 Trim Finish Form Operation 60,000 73,200 Operation 28,500 45,000 Operation S 12,800 19,200 Direct labor Manufacturing overhead 266,900 Required: 1. For each product produced by Plasto Corporation during the month of May, determine the (a) unit cost and (b) total cost. Be sure to account for all costs incurred during the month. (Round "Unit costs" to 2 decimal places.) Total Product Costs Unit Costs Product Plastic sheets Standard model Deluxe model Executive model Total 0 Journal entry worksheet 1 2 3 5 6 7 Record raw material and conversion cost incurred by the extrusion department Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal CO LO Journal entry worksheet 1 2 3 4 6 7 Record the transfer of plastic sheets completed by the extrusion department Note: Enter debits before credits. Credit Transaction General Journal Debit 2 Record entry Clear entry View general journal Co CO LO Journal entry worksheet 2 3 4 5 6 7 8 Record raw material and conversion cost incurred by the forming department. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 7 Record the transfer of Standard model chairs completed by the forming department Note: Enter debits before credits. Credit Transaction General Journal Debit 4 Record entry Clear entry View general journal co O Journal entry worksheet 1 2 3 4 6 7 8 Record raw material and conversion cost incurred by the trimming department Note: Enter debits before credits. Transaction General Journal Debit Credit 5 View general jourmal Record entry Clear entry LO Journal entry worksheet 1
