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 com- pany 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): LC LC Work in Process --Mixing Department June 1 balance 29,000 Completed and transferred to Finished Goods ? Materials Direct labor Overhead June 30 balance 12200 79,500 97,000 ? The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 50% complete with respect to conversion. During June, 37,500 units were started into production. The June 30 work in process inventory consisted of 8,000 units that were 100% complete with respect to materials and 40% complete with respect to conversion Required: 1. Prepare the journal entries to record the raw materials used in production and the direct labor cost incurred. 2. Prepare the journal entry to record the overhead cost applied to production 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. What is the cost of beginning work in process inventory plus the cost added during the period for materials? 7. What is the cost of beginning work in process inventory plus the cost added during the period for conversion? 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 com- pany 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): L04-1, LO4-4 Work in Process-Mixing Department June 1 balance Materials Direct labor Overhead 28,000 Completed and transferred to Finished Goods 120,000 79,500 97.000 June 30 balance The June I work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The June I work in process inventory was 100% complete with respect to materials and 50% complete with respect to conversion. During June, 37.500 units were started into production. The June 30 work in process inventory consisted of 8,000 units that were 100% complete with respect to materials and 40% complete with respect to conversion. Required: 1. Prepare the journal entries to record the raw materials used in production and the direct labor cost incurred. 2. Prepare the journal entry to record the overhead cost applied to production. 3. How many units were completed and transferred to finished goods during the period
