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15 11 [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All
15 11 [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 Debit Work in Process-Mixing Department 29,000 145,275 92,500 110,000 ? Credit Completed and transferred to Finished Goods ? 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.
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