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Required information [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing.
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): June 1 balance Materials Direct labor Overhead June 30 balance Work in Process-Mixing Department 36,000 122,440 81,500 99,000 Completed and transferred to Finished Goods The June 1 work in process inventory consisted of 5,200 units with $19,130 in materials cost and $16,870 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, 37,700 units were started into production. The June 30 work in process inventory consisted of 8,400 units that were 100% complete with respect to materials and 50% complete with respect to conversion. ?
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Items Account Title and Explanation Debit Credit 1 Workin process Mixing department 120205 Raw material inventory 120205 To record raw material inventory used Workin process Mixing department 80500 Wa...Get Instant Access to Expert-Tailored Solutions
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