Question

Required information The Foundational 15 (L04-1, LO4-2, L04-3, 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 materiale introduced at the start of work in the Mining Department. The company uses the weighted average method of process costing Work in Process Taccount for the Ming Department for June follows forthcoming questions pertanto June Completed and transferred to shed Goods el balance Materials Direct Labor 28,000 120,00 79,500 The June 1 work in process inventory consisted of 5.000 units with $16.000 in materials cost and $12.000 in conversion cost. The June I work in process inventory was 100% complete with respect to materials and 50% complete with respect convern D 5 00 units were started into production. The June 30 work in process inventory consisted of 8000 units that were 100% complete with respect to materials and 40% complete with respect to conversion Foundational 4-11 11 What is the cost of ending work in process inventory for conversion?

Answer 1

Units completed and transferred	34500	=5000+37500-8000
Ending work in process units	3200	=8000*40%
Equivalent units for conversion	37700
Total conversion cost	188500	=12000+79500+97000
Divide by Equivalent units for conversion	37700
Cost per Equivalent unit for conversion	5.00
11
Ending work in process units	3200
X Cost per Equivalent unit for materials	5.00
Cost of ending work in process inventory for conversion	16000