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): June 1 balance Materials Direct labor Overhead June 30 balance Work in Process-Mixing Department 28,000 Completed and transferred to Finished Goods 120,000 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. How many units were completed and transferred to finished goods during the period? 2. Compute the equivalent units of production for materials and conversion? 3. What is the cost per equivalent unit for materials and conversion? 4. What is the cost of ending work in process inventory for materials and conversion? 5. What is the cost of materials and conversion transferred to finished goods? 6. Prepare the journal entry to record the transfer of costs from Work in Process to Finished Goods. 7. Prepare cost reconciliation