Answered step by step
Verified Expert Solution
Link Copied!

Question

00
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
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 32,000 Completed and transferred to Finished Goods Materials Direct labor Overhead June 30 balance 141, 245 90,500 108,000 7 The June 1 work in process inventory consisted of 4,900 units with $17,380 in materials cost and $14,620 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 Juno, 37,400 units were started into production. The June 30 work in process inventory consisted of 7800 units that were 100% complete with respect to materials and 50% complete with respect to conversion 10. What is the cost of ending work in process inventory for materials? (Round your intermediate calculations to 2 places.) Cost of ending work-in-process inventory for materials

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

Students also viewed these Accounting questions