Straightforward Weighted Average Process Costing, Step-by-Step Approach
Piscataway Plastic, 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 1- 50,000 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.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.