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

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 40,000 Completed and transferred to Finished Goods ? Materials 125,000 Direct labor 83,500 Overhead 101,000 June 30 balance ? The June 1 work in process inventory consisted of 5,400 pounds with $22,220 in materials cost and $17,780 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, 37,900 pounds were started into production. The June 30 work in process inventory consisted of 8,800 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion. 1.How many units were completed and transferred to finished goods during the period? 2. Compute the equivalent units of production for materials. 3.Compute the equivalent units of production for 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_2

Step: 3

blur-text-image_3

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

Analysing The Value Proposition Of The Audit Process In Africa The Case Of Malawi

Authors: Daniel Dunga

1st Edition

3659166286, 978-3659166280

More Books

Students also viewed these Accounting questions