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 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): ? June 1-balance Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 125,000 83,500 101,000 The June 1 work in process inventory consisted of 5,400 kilograms with $22,220 in materials cost and $17,780 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, 37,900 kilograms were started into production. The June 30 work in process inventory consisted of 8,800 kilograms 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 labour cost incurred. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet A B Record the raw materials used in production Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal Journal entry worksheet Record the overhead cost applied to production Note: Enter debits before credits. Genreal Journal Debit Credit Transaction 1 Record entry Clear entry View general journal 3. How many units were completed and transferred to finished goods during the period? Units completed and transferred to finished goods 4. Compute the equivalent units of production for materials. Equivalent units of production for materials 5. Compute the equivalent units of production for conversion. Equivalent units of production for conversion 6. What is the amount of the cost of beginning work in process inventory plus the cost added during the period for materials? Total cost of materials 7. What is the amount of the cost of beginning work in process inventory plus the cost added during the period for conversion? Total cost of conversion 8. What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) Cost per equivalent unit for materials 9. What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) Cost per equivalent unit for conversion 10. What is the cost of ending work in process inventory for materials? (Do not round intermediate calculations.) Cost of ending work-in-process inventory for materials 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 12. What is the cost of materials transferred to finished goods? (Do not round intermediate calculation.) Cost of materials transferred to finished goods 13. What is the amount of conversion cost transferred to finished goods? (Do not round your intermediate calculations.) Conversion cost transferred to finished goods 14. Prepare the journal entry to record the transfer of costs from Work in Process to Finished Goods. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet A > Record the transfer of costs from Work in Process to Finished Goods Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal 15-a. What is the total cost to be accounted for? (Do not round intermediate calculations.) Total cost to be accounted for 15-b. What is the total cost accounted for? (Do not round intermediate calculations.) Total cost accounted for
