Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry....

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Accounting

Piscataway Plastics Company manufactures a highly specializedplastic that is used extensively in the automobile industry. Thefollowing data have been compiled for the month of June. Conversionactivity occurs uniformly throughout the production process.
Work in process, June 1—40,000 units:
Direct material: 100% complete, cost of $ 155,500
Conversion: 40% complete, cost of 25,200
Balance in work in process, June 1 $ 180,700
Units started during June 200,000
Units completed during June and transferred out tofinished-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 $ 87,200
Applied manufacturing overhead 261,600
Total conversion costs $ 348,800
Required:
Prepare schedules to accomplish each of the followingprocess-costing steps (for the month of June. Use theweighted-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.

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1 Analysis of Physical flow of units Particulars Physical unit Work in process june 1 40000 unit started during june 200000 Total units to account for 240000 unit completed transferred out See Answer

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Work in process, June 1—40,000 units:
Direct material: 100% complete, cost of	$	155,500
Conversion: 40% complete, cost of		25,200
Balance in work in process, June 1	$	180,700
Units started during June		200,000
Units completed during June and transferred out tofinished-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	$	87,200
Applied manufacturing overhead		261,600
Total conversion costs	$	348,800