Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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 43,000 Completed and transferred to Finished Goods 138,925 88,500 106,000 June 1 balance Materials Direct labor Overhead June 30 balance 2 The June 1 work in process inventory consisted of 5,900 units with $22,770 in materials cost and $20,230 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, 38,400 units were started into production. The June 30 work in process inventory consisted of 9,800 units that were 100% complete with respect to materials and 50% 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction Debit Credit 1 1 General Journal Work in process --Mixing Raw materials inventory 2 2 Work in process-Mixing Finished goods Journal entry worksheet

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

From Zero To Zen Secret Keys To Nurturing Your Numbers And Finding Financial Flow

Authors: Liz Lajoie

1st Edition

1683507045, 978-1683507048

More Books

Students also viewed these Accounting questions

Question

2. Identify issues/causes for the apparent conflict.

Answered: 1 week ago

Question

3. What strategies might you use?

Answered: 1 week ago