Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

question 4 part 2 Required information [The following information applies to the questions displayed below) Clopack Company manufactures one product that goes through one processing

question 4
image text in transcribed
part 2
image text in transcribed
Required information [The following information applies to the questions displayed below) 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 Process-Mixing Department June 1 balance Completed and transferred to Finished Goods Materials Direct labor 25,000 157,080 99,500 117,000 Overhead June 30 balance The June 1 Work in process inventory consisted of 4,000 units with $13.020 in materials cost and $11.980 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 36,500 units were started into production The June 30 work in process inventory consisted of 9,600 units that were 100% complete with respect to materials and 50% complete with respect to conversion 4. Compute the equivalent units of production for materials Equivalent units of production for materials Required information [The following information applies to the questions displayed below) 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 Process-Mixing Department June 1 balance 25,000 Completed and transferred to Finished Goods Materials 157,880 Direct labor Overhead June 30 balance The June 1 work in process inventory consisted of 4,000 units with $13,020 in materials cost and $11,980 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, 36,500 units were started into production. The June 30 work in process inventory consisted of 9,600 units that were 100% complete with respect to materials and 50% complete with respect to conversion 99,500 117.000 5. Compute the equivalent units of production for conversion Equivalent units of production

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Intermediate Accounting Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

12th Canadian edition

119-49633-5, 1119496497, 1119496330, 978-1119496496

Students also viewed these Accounting questions

Question

What are the attributes of a technical decision?

Answered: 1 week ago

Question

How do the two components of this theory work together?

Answered: 1 week ago