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13.

Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, LO4-5) [The following information applies to the questions displayed below.) 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): June 1 balance Work in Process-Mixing Department 40,000 Completed and transferred to Finished Goods 125,000 83.500 101,000 Materials Direct labor Overhead June 30 balance The June 1 work in process inventory consisted of 5,400 units with $22,220 in materials cost and $17.780 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, 37,900 units were started into production. The June 30 work in process inventory consisted of 8,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion Foundational 4-13 13. What is the amount of conversion cost transferred to finished goods? (Round your intermediate calculations to 2 places.) Conversion cost transferred to finished goods a 12 15 of 15 Next >

14.

15. a and b

Answer 1

• Requirement 13

Conversion cost transferred to finished goods = $ 179,400

Cost of Units Transferred Out	EUP	Cost per EUP	Total Cost
- Direct Materials	34,500	$                      3.40	$        117,300.00
- Conversion	34,500	$                      5.20	$        179,400.00 ANSWER
Total Cost transferred Out				$            296,700.00

• Requirement 14

Accounts title	Debit	Credit
Finished Goods Inventory	$                   296,700.00
Work In Process Inventory		$           296,700.00
(to record transfer of cost from WIP to Finished Goods)

• Requirement 15 [a] and [b]

Costs to be accounted for:
Cost of Beginning WIP Inventory	$           40,000.00
Cost added to production during the period	$         309,500.00
Total Cost to be accounted for	$         349,500.00 Answer [a]
Costs accounted for as follows:
Cost of units transferred out	$         296,700.00
Cost of Ending WIP Inventory	$           52,800.00
Total Cost accounted for	$         349,500.00 Answer [b]

• Related working

EUP - Weighted Average Method	Units	% Material	EUP Materials	% Conversion	EUP - Conversion
Units TRANSFERRED	34,500	100%	34,500	100%	34,500
Units of ENDING WIP	8,800	100%	8,800	50%	4,400
Equivalent Units of Production			43,300		38,900
COST per EUP			Material		Conversion
Cost of Beginning WIP			$          22,220.00		$                                  17,780.00
Cost incurred during the period			$        125,000.00		$                                184,500.00
Total Costs		Costs	$        147,220.00	Costs	$                                202,280.00
Equivalent units of production		EUP	43,300	EUP	38,900
Cost per EUP			$              3.40000		$                                      5.20000