Question

Required information The Foundational 15 (Algo) (L04-1, LO4-2, LO4-3, LO4-4, 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 Materials Direct labor Overhead June 30 balance Work in Process-Mixing Department 29,000 Completed and transferred to Finished Goods 145,275 92,500 110,000 ? 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.

Answer 1

5.)		Conversion
	Units transferred out (4,700 + 37,200 - 8,200 )	33,700
	Add: Work in process , June 30 ( 50% ) - 8,200	4,100
	Equivalent units of production	37,800
6.)	Total cost of materials	$ 161,315	=16040+145275
7.)	Total cost of conversion	$ 215,460	=12960+92500+110000
8.)		Materials
	Units transferred out (4,700 + 37,200 - 8,200 )	33,700
	Add: Work in process , June 30 ( 100% ) - 8,200	8,200
	Equivalent units of production	41,900
	Cost per equivalent unit for materials	$ 3.85	=161315/41900
9.)	Cost per equivalent unit for Conversion	$ 5.70	=215460/37800
10.)	Cost of ending work in process inventory for materials	$ 129,745	=33700*3.85