Piscataway Plastics Company
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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 1—50,000 units: | 50,000 |
| 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 | |
| 1. Analysis of physical flow of units. | |
| 2. Calculation of equivalent units. | |
| 3. Computation of unit costs. | |
| 4. Analysis of total costs. |
10 years ago
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