Clopack Company manufactures one product that goes through one processing depart

Question

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):

    

The June 1 work in process inventory consisted of 4,100 pounds with $14,700 in materials cost and $12,300 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, 36,600 pounds were started into production. The June 30 work in process inventory consisted of 9,400 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion.

       

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):

Explanation / Answer

Solution -

Working for Units

Working for Cost

Working for ending work in process

Materials Conversion 100% 60% a Beginning WIP in pounds 4100 4100 2460 b Started into production 36600 36600 36600 c Total units = b+a 40700 40700 39060 100% 50% d Ending WIP 9400 9400 4700 e Completed & Transferred out ( c-d) 31300 31300 34360 Equivalent units Calculation Direct Material Conversion Completed & Transferred out ( c-d) 31300 31300 34360 Ending WIP 9400 9400 4700 Total Equivalent Unit 40700 40700 39060

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