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ACC - Piscataway Plastics & Vesuvius Tile Company

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Question;Chp 4 -26Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in theautomobile industry. The following data have been compiled for the month of June. Conversion activityoccurs uniformly throughout the production process.Work in process, June 1?50,000 units:Direct material: 100% complete cost of......................................................................................................... $120,000Conversion: 40% complete, cost of............................................................................................................... 34,400Balance in work in process, June 1........................................................................................................... $154,400Units started during June.................................................................................................................................. 200,000Units completed during June and transferred out to finished-goods inventory...................................................... 190,000Work in process, June 30:Direct material: 100% completeConversion: 60% completeCosts incurred during June:Direct material............................................................................................................................................. $492,500Conversion costs:Direct labor............................................................................................................................................. $ 87,450Applied manufacturing overhead............................................................................................................... 262,350Total conversion costs.............................................................................................................................. $349,800Required: Prepare schedules to accomplish each of the following process-costing steps for the monthof 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.________________________________________________________________________Chp 4 - 27The following data pertain to the Vesuvius Tile Company for July.Work in process, July 1 (in units)....................................................................................................................... 20,000Units started during July...................................................................................................................................?Total units to account for.................................................................................................................................. 65,000Units completed and transferred out during July................................................................................................?Work in process, July 31 (in units)..................................................................................................................... 15,000Total equivalent units: direct material................................................................................................................. 65,000Total equivalent units: conversion......................................................................................................................?Work in process, July 1: direct material............................................................................................................. $164,400Work in process, July 1: conversion...................................................................................................................?Costs incurred during July: direct material.........................................................................................................?Costs incurred during July: conversion.............................................................................................................. 659,400Work in process, July 1: total cost..................................................................................................................... 244,200Total costs incurred during July......................................................................................................................... 1,031,250Total costs to account for.................................................................................................................................. 1,275,450Cost per equivalent unit: direct material............................................................................................................. 8.25Cost per equivalent unit: conversion..................................................................................................................?Total cost per equivalent unit............................................................................................................................ 21.45Cost of goods completed and transfered out during July......................................................................................?Cost remaining in ending work-in-process inventory: direct material...................................................................?Cost remaining in ending work-in-process inventory: conversion......................................................................... 79,200Total cost of July 31 work in process................................................................................................................. 202,950Additional Information:a. Direct material is added at the beginning of the production process, and conversion activity occursuniformly throughout the process.b. The company uses weighted-average process costing.c. The July 1 work in process was 30 percent complete as to conversion.d. The July 31 work in process was 40 percent complete as to conversion.Required: Compute the missing amounts, and prepare the firm?s July production report.

 

Paper#41212 | Written in 18-Jul-2015

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