Help Clopack Company manufactures one product that goes through one processing d
ID: 2337367 • Letter: H
Question
Help 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. I pertain to June) ts Work in Process T-account for the Mixing Department for June follows (all forthcoming questions Work in Process-Mixi 27,00 June 1 balance Completed and cransterred to Finished oods Materials Direct labor 153,250 97,500 115,000 une 30 balance The June 1 work in process cost. The June 1 work in inventory consisted of 4,200 units with $14,440 in materials cost and $12,560 in conversion process inventory was 100% complete with respect to materials and 60% complete with respect conversion. During June, 36,700 units were started into production. The June 30 9,200 units that were 100% complete with respect to materials and work in process inventory consisted of 50% complete with respect to conversion. 7 What is the cost of beginning work in process inventory plus the cost added during the period for conversion? 7 815 of 17 f Next > C Prey DEL 5 6 7 8 9 0. F G HJ K L ENTERExplanation / Answer
Units transferred out = 4200+36700-9200= 31700 7 Total cost of conversion = 12560+97500+115000= $225060 8 Cost per equivalent units for materials = (14440+153250)/(31700+9200)= $4.1 9 Cost per equivalent units for conversion = 225060/(31700+4600)= $6.2 10 Cost of ending work in process inventory for materials = 9200*4.1= $37720 11 Cost of ending work in process inventory for conversion = 4600*6.2= $28520 12 Cost of materials transferred to finished goods = 31700*4.1= $129970 13 Conversion Cost transferred to finished goods = 31700*6.2= $196540 15a Total cost to be accounted for = 27000+(153250+97500+115000)= $392750 b Total cost accounted for = (37720+28520)+(129970+196540)= $392750
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