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 of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June):
\table[[,Debit,Work in Process-Mixing Department],[June 1 balance,27,000,Completed and transferred to Finished Goods,],[Materials,154,205,,],[Direct labor,98,500,,],[Overhead,116,000,,],[June 30 balance,?,,]]
The June 1 work in process inventory includes 4,100 units with $14,700 in materials cost and $12,300 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, 36,600 units were started into production. The June 30 work in process inventory consisted of 9,400 units 100% complete with respect to materials and 50% complete with respect to conversion.
Foundational 4-13(Algo)
13. What is the amount of conversion cost transferred to finished goods?
Note: Round your intermediate calculations to 2 places.
Conversion cost transferred to finished goods
image text in transcribed

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

Performance Audit Program Auditing Is A Systemic Process

Authors: Reina Mercedes Pérez Aguila, Yoandra González García

1st Edition

6205775697, 978-6205775691

More Books

Students also viewed these Accounting questions

Question

BPR always involves automation. Group of answer choices True False

Answered: 1 week ago

Question

c. What groups were least represented? Why do you think this is so?

Answered: 1 week ago

Question

7. Describe phases of multicultural identity development.

Answered: 1 week ago