Prepare your responses in Excel with each problem on a separate tab.

Problem 1-1 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 150,000 units: 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. The following data pertain to the Vesuvius Tile Company for July. Work in process, July 1 (in units) .........................................................................................20,000 Units started during July ...............................................................................................................? Total units to account for .....................................................................................................65,000 Units completed and transferred out during July .........................................................................? Work in process, July 31 (in units) ........................................................................................15,000 Total equivalent units: direct material ..................................................................................65,000 Total equivalent units: conversion .................................................................................................? Work in process, July 1: direct material ............................................................................$164,400 Work in process, July 1: conversion ...............................................................................................? Costs incurred during July: direct material ....................................................................................? Costs incurred during July: conversion ...............................................................................659,400 Work in process, July 1: total cost ......................................................................................244,200 Total costs incurred during July .......................................................................................1,031,250 Total costs to account for ................................................................................................1,275,450 Cost per equivalent unit: direct material ..................................................................................8.25 Cost per equivalent unit: conversion .............................................................................................? Total cost per equivalent unit .................................................................................................21.45 Cost of goods completed and transfered out during July ..............................................................? Cost remaining in ending work-in-process inventory: direct material ...........................................? Cost remaining in ending work-in-process inventory: conversion.........................................79,200 Total cost of July 31 work in process ....................................................................................202,950 Additional Information: a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. b. The company uses weighted-average process costing. c. The July 1 work in process was 30 percent complete as to conversion. d. The July 31 work in process was 40 percent complete as to conversion. Required: Compute the missing amounts, and prepare the firm's July production report. Piscataway Plastics Company Cost Report (Weighted Average Method) Problem 1-1 1. Physical flow of Units Units in beginning WIP Units started during the period Units to account for Units completed and transferred out Units in Ending WIP Units accounted for 50,000 200,000 250,000 190,000 60,000 250,000 2. Calculation of Equivalent Units Units completed and transferred out Units in Ending WIP Equivalent Units Total Materials (100%) Conversion (60%) 190,000 190,000 190,000 96,000 60,000 36000 286,000 250,000 226,000 3. Computation of unit costs Costs in the beginning WIP Costs incurred during the period Total costs Equivalent Units Cost per unit Total Materials (100%) Conversion (60%) 154,400 120,000 34,400 842,300 492,500 349,800 996,700 612,500 384,200 250,000 226,000 4.15 2.45 1.70 4. Analysis of total costs Costs in the Ending WIP Units completed and transferred out Total costs Total Materials (100%) Conversion (60%) 208200 147000 61200 788500 465500 323000 996700 612500 384200 Problem 1-1 Vesuvius Tile Company Cost Report (Weighted Average Method) 1. Physical flow of Units Units in beginning WIP Units started during the period Units to account for Units completed and transferred out Units in Ending WIP Units accounted for 2. Calculation of Equivalent Units Units completed and transferred out Units in Ending WIP Equivalent Units 20,000 45,000 65,000 50,000 15,000 65,000 Total 50,000 21,000 121,000 Materials (100%) 50,000 15,000 65,000 Conversion (40%) 50,000 6000 56,000 3. Computation of unit costs Costs in the beginning WIP Costs incurred during the period Total costs Equivalent Units Cost per unit Total Materials Conversion 244,200 164,400 79,800 1,031,250 371,850 659,400 1,275,450 536,250 739,200 121,000 65,000 56,000 21.45 8.25 13.2 4. Analysis of total costs Costs in the ending WIP Costs in units completed and transferred Total cost Total Materials Conversion 202950 123750 79200 1072500 412500 660000 1275450 536250 739200