Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed

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 ProcessMixing Department June 1 balance 36,000 Completed and transferred to Finished Goods Materials Direct labor Overhead 122,440 81,500 99,000 June 30 balance The June 1 work in process inventory consisted of 5,200 pounds with $19,130 in materials cost and $16,870 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, 37,700 pounds were started into production. The June 30 work in process inventory consisted of 8,400 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion. 6. For materials, what is the sum of the cost of beginning work in process inventory plus the cost added during the period? Total cost of materials 7. For conversion, what is the sum of the cost of beginning work in process inventory plus the cost added during the period? Total cost of conversion 8. What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) Cost per equivalent unit for materials 9. What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) Cost per equivalent unit for conversion 10. What is the cost of ending work in process inventory for materials? (Do not round intermediate calculations.) Cost of ending work-in-process inventory for materials

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

Auditing Philosophy And Technique

Authors: John William Cook

1st Edition

039520660X, 978-0395206607

More Books

Students also viewed these Accounting questions

Question

7. Compare and contrast cable modem and DSL.

Answered: 1 week ago

Question

What is syds adjusted gross income on the 2021

Answered: 1 week ago

Question

25.0 m C B A 52.0 m 65.0 m

Answered: 1 week ago