PROBLEM 4-26 (45 MINUTES) Piscutaway Plastics Company manufactures a highly specialized plastic that is used extensively in the Straightforward Weighted- Problem 4-26 automobile industry. The following data have been compiled for the month of June. Conversion activity Average Process Costing. occurs uniformly throughout the production process. Step-byStep Approach (LO 43, 4-4,4-5) Work in process, June 150,000 unts: Direct material: 100% complete, cost of 2. Total equivalent units $120,000 conversions, 226,000 Conversion: 40% complete, cost of 34,400 Balance in work in process, June 1 5154,400 Unts started during June 200,000 Unts 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 Drect material $492.500 Conversion costs Direct labor $ 87,450 Applied manufacturing overhead 262,150 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