Question

Required information (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 Materials Direct labor Overhead June 30 balance Work in Process-Mixing Department 45,000 Completed and transferred to Finished Goods 140,400 39,500 107,000 The June 1 work in process inventory consisted of 6.000 units with $24,250 in materials cost and $20,750 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, 38,500 units were started into production. The June 30 work in process inventory consisted of 10,000 units that were 100% complete with respect to materials and 50% complete with respect to conversion. 12. What is the cost of materials transferred to finished goods? (Round your intermediate calculations to 2 places.) Cost of materials transferred to finished goods

Answer 1

cost of goods transferred to finished goods
materials		34,500	*	3.7	=	127650
conversion		34,500	*	5.5	=	189750
cost of ending work in process inventory.							317400
so cost of materials transferred to finished goods					127650	answer