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CircleD Fastener Corporation accumulates costs for its single product using process costing. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. A partially completed production report for the month of June follows.

Production Report For the Month of June
		Percentage of Completion with Respect to Conversion			Equivalent Units
	Physical Units				Direct Material	Conversion
Work in process, June 1	30,000		35%
Units started during June	34,000
Total units to account for	64,000
Units completed and transferred out during June	40,000				40,000	40,000
Work in process, June 30	24,000		75%		24,000	18,000
Total units accounted for	64,000

	Direct Material			Conversion			Total
Work in process, June 1	$	147,600		$	623,400		$	771,000
Costs incurred during June		201,200			2,221,500			2,422,700
Total costs to account for	$	348,800		$	2,844,900		$	3,193,700

Required
1.	Complete each of the following process-costing steps using the weighted-average method:

a.	Calculation of equivalent units. Equivalent Unit Physical Units Direct Material Conversion

Units completed and transferred out during June
Work in process, June 30
Total units accounted for
Total equivalent units

b.

Computation of unit costs. (Round "Costs per equivalent unit" to 2 decimal places.)

	Direct Materials	Conversion	Total
Total Cost to account for
Equivalent Units
Cost per equivalent Unit

c.

Analysis of total costs. (Round "Costs per equivalent unit" to 2 decimal places.)

	# Of Equivalent Units	Cost per equivalent Unit	Total Cost
Cost of goods completed and transfered during January
Cost remaining in June 30 WOrk in Process:
Direct material
COnversion
Total Cost of June 30 Work in Process

2.	Prepare a journal entry to record the transfer of the cost of goods completed and transferred out during June. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)