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Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials...

Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June):

Work in Process—Mixing Department
June 1 balance

29,000

 Completed and transferred
to Finished Goods		 ?
Materials 145,275
Direct labor 92,500
Overhead 110,000
June 30 balance ?

The June 1 work in process inventory consisted of 4,700 units with $16,040 in materials cost and $12,960 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 37,200 units were started into production. The June 30 work in process inventory consisted of 8,200 units that were 100% complete with respect to materials and 50% complete with respect to conversion.

What is the cost of beginning work in process inventory plus the cost added during the period for conversion?

What is the cost per equivalent unit for materials?

What is the cost per equivalent unit for conversion?

What is the cost of ending work in process inventory for materials?

What is the cost of ending work in process inventory for conversion?

What is the cost of materials transferred to finished goods?

What is the amount of conversion cost transferred to finished goods?

Prepare the journal entry to record the transfer of costs from Work in Process to Finished Goods

What is the total cost to be accounted for?

What is the total cost accounted for?

Solutions

Expert Solution

Workings:

Workings:

ekkarill92 answered 8 months ago
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