Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. How many units were completed and transferred to finished goods during the period? 4. Compute the equivalent units of production for materials. 5. Compute

image text in transcribed

3.

How many units were completed and transferred to finished goods during the period?

4.

Compute the equivalent units of production for materials.

5.

Compute the equivalent units of production for conversion.

6.

For materials, what is the sum of the cost of beginning work in process inventory plus the cost added during the period?

7.

For conversion, what is the sum of the cost of beginning work in process inventory plus the cost added during the period?

8.

What is the cost per equivalent unit for materials?

9.

What is the cost per equivalent unit for conversion?

10.

What is the cost of ending work in process inventory for materials

11.

What is the cost of ending work in process inventory for conversion?

12.

What is the cost of materials transferred to finished goods?

13.

What is the amount of conversion cost transferred to finished goods?

15-a.

What is the total cost to be accounted for?

15-b.

What is the total cost accounted for?

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 to account for units and costs. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June) Work in Process-Mixing Department June 1 balance 30,000 Completed and transferred to Finished Goods Materials 142,840 91,500 Direct labor Overhead 109,000 June 30 balance The une 1 work in process inventory consisted of 4,800 pounds with $17140 in materials cost and $12,860 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, 37,300 pounds were started into production. The June 30 work in process inventory consisted of 8,000 pounds that were 10 complete with respect to materials and 50% complete with respect to conversion

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Logistics Audit Methods Organization And Practice

Authors: Piotr Buła, Bartosz Niedzielski

1st Edition

1032461268, 978-1032461267

More Books

Students also viewed these Accounting questions