Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Answer fast! Will Thumbs up right away! Thank you Clopack Company manufactures one product that goes through one processing department called Mixing. All raw

image text in transcribedPlease Answer fast! Will Thumbs up right away! Thank you

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 Process-Mixing Department June 1-balance 30,000 Completed and transferred to Finished Goods Materials Direct labour Overhead 142,840 91,500 109,000 June 30-balance ? The June 1 work in process inventory consisted of 4,800 pounds with $17,140 in materials cost and $12,860 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, 37,300 pounds were started into production. The June 30 work in process inventory consisted of 8,000 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion. 11. What is the cost of ending work in process inventory for conversion? (Do not round your intermediate calculations.) Cost of ending work-in-process inventory 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

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

Bookkeeping And Accounting For Beginners

Authors: D.K. Livingston

1st Edition

1686248598, 978-1686248597

More Books

Students also viewed these Accounting questions

Question

What are some mitigation implementations for disaster management?

Answered: 1 week ago