Assignment 1

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:

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.

Assignment 2

The following data pertain to the Vesuvius Tile Company for July.
Work in process, July 1 (in units)......................................................................................20,000
Units started during July ..................................................................................................?
Total units to account for......................................................................................................65,000
Units completed and transferred out during July....................................................................?
Work in process, July 31 (in units).......................................................................................15,000
Total equivalent units: direct material..................................................................................65,000
Total equivalent units: conversion...........................................................................................?
Work in process, July 1: direct material..........................................................................$164,400
Work in process, July 1: conversion........................................................................................?
Costs incurred during July: direct material..............................................................................?
Costs incurred during July: conversion...............................................................................659,400
Work in process, July 1: total cost......................................................................................244,200
Total costs incurred during July.....................................................................................1,031,250
Total costs to account for...............................................................................................1,275,450
Cost per equivalent unit: direct material..................................................................................8.25
Cost per equivalent unit: conversion..........................................................................................?
Total cost per equivalent unit...............................................................................................21.45
Cost 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........................................79,200
Total cost of July 31 work in process...................................................................................202,950

Additional Information:

a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process.

b. The company uses weighted-average process costing. Process Costing and Hybrid Product-Costing Systems 159

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.