Question

Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, L04-5] [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 128, 325 84,500 102,000 Materials Direct labor Overhead June 30 balance The June 1 work in process inventory consisted of 5,500 units with $21,750 in materials cost and $18,250 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, 38,000 units were started into production. The June 30 work in process inventory consisted of 9,000 units that were 100% complete with respect to materials and 50% complete with respect to conversion.

Answer 1

53 3) How many units were completed and transferred to finished goods during the period? Unit Information Units to account for; Units in beginning work in process inventory Units started in during the period Total Units to account for 5500 38000 43500 Units accounted for Units Completed & Transferred Out (43500-9000) Units in ending work in process Inventory Total Units accounted for 34500 9000 43500 4 Compute the Equivalent units of production for materials Units accounted for Units Completed & Transferred Out (34500*100%) Units in ending work in process Inventory (9000*100%) Equivalent units of production for materials Equivalent Units Materials 34500 9000 43500

6 What is the Cost of Beginning work in Process inventory plus the cost added during the period for materials? Costs in beginning work in process inventory Costs incurred during the period Total Costs of materials 21750 128325 150075 7 What is the Cost of Beginning work in Process inventory plus the cost added during the period for conversion? Costs in beginning work in process inventory Costs incurred during the period (84500+102000) Total Costs of Conversion 18250 186500 204750