he Foundational 15 (Algo) [LO4-1, LO4-2, LO4-3, LO4-4, LO4-5]

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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):

Work in ProcessMixing Department
Debit	Credit
June 1 balance	27,000	Completed and transferred to Finished Goods	?question mark
Materials	154,205
Direct labor	98,500
Overhead	116,000
June 30 balance	?question mark

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 4-3 (Algo)

3. How many units were completed and transferred to finished goods?

5. Compute the equivalent units of production for conversion.

7.. What is the cost of beginning work in process inventory plus the cost added during the period for conversion?

8. What is the cost per equivalent unit for materials?

9. What is the cost per equivalent unit for conversion?

10. What is the cost of ending work in process inventory for materials?

11. What is the cost of ending work in process inventory for conversion?

12. What is the cost of materials transferred to finished goods?

13. What is the amount of conversion cost transferred to finished goods?

14. Prepare the journal entry to record the transfer of costs from Work in Process to Finished Goods.

15-a. What is the total cost to be accounted for?

15-b. What is the total cost accounted for?