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): Work in Process—Mixing Department June 1 balance 36,000 Completed and transferred to Finished Goods Materials Direct labor Overhead 122,440 81,500 99,000 June 30 balance The June 1 work in process inventory consisted of 5,200 pounds with $19,130 in materials cost and $16,870 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, 37,700 pounds were started into production. The June 30 work in process inventory consisted of 8,400 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion. 6. For materials, what is the sum of the cost of beginning work in process inventory plus the cost added during the period? Total cost of materials 7. For conversion, what is the sum of the cost of beginning work in process inventory plus the cost added during the period? 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

Explanation / Answer

Weighted average cost Beggining units 5200 Transferred out 34,500 Started intro production 37700 Ending units 8,400 Units accounted for 42900 42900 Equivalent units Material Conversion cost Units transferred                      A 34500 34500 Ending Units 8,400 8,400 Completion 100% 50% B 8400 4200 Total units 42900 38700 Cost per equivalent units Particulars Material Conversion cost total As at beginning 19130 16870 36000 Added during the month 122440 180500 302940 Cost to be accounted for 141570 197370 338940 Total eqivalent units 42900 38700 Cost per equivalent unit 3.30 5.10 8.40 Cost per equivalent unit = Cost to be accounted for / Total equivalent units Cost of ending work in progress Conversion cost Particulars Material Total Ending units 8,400 8,400 Cost per equivalent units 3.30 5.10 Completion 100% 50% Total cost 27720 21420 49140 Cost of goods transferred Conversion cost Particulars Material Total Number of units 34500 34500 Cost per equivalent units 3.30 5.10 8.40 Total amount 113850 175950 289800 Reconciliation report Cost of goods transferred 289800 Add Work in proress ending Material                                      27720 Conversion cost                        21420 49140 Total cost accounted for 338940

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