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A.) Prepare the journal entries to record the raw materials used in production and the direct labor cost incurred for raw materials used in production
A.) Prepare the journal entries to record the raw materials used in production and the direct labor cost incurred for raw materials used in production and the direct labor cost incurred.
B.) Prepare the journal entry to record the overhead cost applied to production.
C.) How many units were completed and transferred to finished goods during the period?
D.) Compute the equivalent units of production for materials.
Required information The Foundational 15 [LO4-1, 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 Work in Process-Mixing Department 29,000 Completed and transferred to Finished Goods 145,275 92,500 110,000 Materials Direct labor Overhead June 30 balance 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 conversionStep by Step Solution
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