Business, 24.01.2020 19:31 Jbullon119
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 28,000 completed and transferred to finished goods ?
materials 120,000
direct labor 79,500
overhead 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.
1.
value:
1.00 points
required:
1.
prepare the journal entries to record the raw materials used in production and the direct labor cost incurred. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
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2.
value:
1.00 points
2.
prepare the journal entry to record the overhead cost applied to production. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
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3.
value:
1.00 points
3. how many units were completed and transferred to finished goods during the period?
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4.
value:
1.00 points
4. compute the equivalent units of production for materials.
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5.
value:
1.00 points
5. compute the equivalent units of production for conversion.
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6.
value:
1.00 points
6.
for materials, what is the sum of the cost of beginning work in process inventory plus the cost added during the period?
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7.
value:
1.00 points
7.
for conversion, what is the sum of the cost of beginning work in process inventory plus the cost added during the period?
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8.
value:
1.00 points
8. what is the cost per equivalent unit for materials? (round your answer to 2 decimal places.)
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9.
value:
1.00 points
9. what is the cost per equivalent unit for conversion? (round your answer to 2 decimal places.)
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10.
value:
1.00 points
10. what is the cost of ending work in process inventory for materials? (do not round intermediate calculations.)
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11.
value:
1.00 points
11. what is the cost of ending work in process inventory for conversion?
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12.
value:
1.00 points
12.
what is the cost of materials transferred to finished goods? (do not round intermediate calculations.)
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13.
13. what is the amount of conversion cost transferred to finished goods?
Answers: 2
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Clopack company manufactures one product that goes through one processing department called mixing....
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