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. 15-a. What is the total cost to be accounted for? Total cost to be accounted for 15-b. What is the total cost accounted for? Total cost accounted for

Explanation / Answer

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 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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