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.

 

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. ?

Step by Step Solution

3.31 Rating (160 Votes )

There are 3 Steps involved in it

Step: 1

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... 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

Introduction to Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

7th edition

978-1259675539, 125967553X, 978-1259594168, 1259594165, 78025796, 978-0078025792

More Books

Students also viewed these Accounting questions

Question

How are the components determined?

Answered: 1 week ago

Question

Under what conditions are two qualitative variables independent?

Answered: 1 week ago

Question

25.0 m C B A 52.0 m 65.0 m

Answered: 1 week ago