Required: How many unites were completed and transferred goods during the period
ID: 2425210 • Letter: R
Question
Required:
How many unites were completed and transferred goods during the period?
Compute the equivalent units of production for materials?
Compute the equivalent units of production for conversion?
For materials, what is the sum of the cost of beginning work in process inventory process inventory plus the cost added during the period?
For conversion, what is the sum of the cost of beginning work in process inventory plus the cost added during the period?
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): Work in Process-Mixing Department June 1 balance 28,000Completed and transferred to Finished Goods Materials Direct labor Overhead 120,000 79,500 97,000 June 30 balance The June 1 work in process inventory consisted of 5,000 pounds with $16,000 in materials cost and $12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 50% complete with respect to conversion. During June, 37,500 pounds were started into production. The June 30 work in process inventory consisted of 8,000 pounds that were 100% complete with respect to materials and 40% complete with respect to conversion.Explanation / Answer
1
Calculation of Units completed and transferred goods during the period:
Units in beginning Work in process (June 1)
5,000
Add: Units started during the month
37,500
Less: Units in beginning Work in process (June 30)
(8,000)
Units completed and transferred goods during the period:
34,500
2
Calculation of equivalent units of production for materials:
Physical Units
% of Completion
Equivalent Units
A
B
A*B
Units started and completed during the month = 34500 - 5000 =
29,500
100%
29,500
Units in beginning Work in process (June 30)
8,000
100%
8,000
Equivalent units of production for materials =
37,500
3
Calculation of equivalent units of production for conversion:
Physical Units
% of Completion
Equivalent Units
A
B
A*B
Units started and completed during the month = 34500 - 5000 =
29,500
100%
29,500
Units in beginning Work in process (June 30)
8,000
40%
3,200
Equivalent units of production for Conversion =
32,700
4
Sum of the cost of beginning work in process inventory plus the cost added during the period for Material:
Cost of beginning work in process inventory
$ 16,000
Add: Cost Added during the month
$ 120,000
Sum of the cost of beginning work in process inventory plus the cost added during the period for Material:
$ 136,000
5
Sum of the cost of beginning work in process inventory plus the cost added during the period for Conversion:
Cost of beginning work in process inventory
$ 12,000
Add: Cost Added during the month (79500+97000)
$ 176,500
Sum of the cost of beginning work in process inventory plus the cost added during the period for Conversion:
$ 188,500
1
Calculation of Units completed and transferred goods during the period:
Units in beginning Work in process (June 1)
5,000
Add: Units started during the month
37,500
Less: Units in beginning Work in process (June 30)
(8,000)
Units completed and transferred goods during the period:
34,500
2
Calculation of equivalent units of production for materials:
Physical Units
% of Completion
Equivalent Units
A
B
A*B
Units started and completed during the month = 34500 - 5000 =
29,500
100%
29,500
Units in beginning Work in process (June 30)
8,000
100%
8,000
Equivalent units of production for materials =
37,500
3
Calculation of equivalent units of production for conversion:
Physical Units
% of Completion
Equivalent Units
A
B
A*B
Units started and completed during the month = 34500 - 5000 =
29,500
100%
29,500
Units in beginning Work in process (June 30)
8,000
40%
3,200
Equivalent units of production for Conversion =
32,700
4
Sum of the cost of beginning work in process inventory plus the cost added during the period for Material:
Cost of beginning work in process inventory
$ 16,000
Add: Cost Added during the month
$ 120,000
Sum of the cost of beginning work in process inventory plus the cost added during the period for Material:
$ 136,000
5
Sum of the cost of beginning work in process inventory plus the cost added during the period for Conversion:
Cost of beginning work in process inventory
$ 12,000
Add: Cost Added during the month (79500+97000)
$ 176,500
Sum of the cost of beginning work in process inventory plus the cost added during the period for Conversion:
$ 188,500
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