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 of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Materials Direct labor Overhead June 30 balance Debit Work in Process-Mixing Department Credit 27,000 Completed and transferred to Finished Goods 154,205 98,500 116,000 The June 1 work in process inventory consisted of 4,100 units 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 units were started into production. The June 30 work in process inventory consisted of 9,400 units that were 100% complete with respect to materials and 50% complete with respect to conversion. 9. What is the cost per equivalent unit for conversion? 10. What is the cost of ending work in process inventory for materials? 11. What is the cost of ending work in process inventory for 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 of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Materials Direct labor Overhead June 30 balance Debit Work in Process-Mixing Department Credit 27,000 Completed and transferred to Finished Goods 154,205 98,500 116,000 The June 1 work in process inventory consisted of 4,100 units 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 units were started into production. The June 30 work in process inventory consisted of 9,400 units that were 100% complete with respect to materials and 50% complete with respect to conversion. 9. What is the cost per equivalent unit for conversion? 10. What is the cost of ending work in process inventory for materials? 11. What is the cost of ending work in process inventory for conversion?

Name: rr.9. Clopack Company manufactures one product that goes through one p
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Description: rr.9. Clopack Company manufactures one product that goes through one processing department called Mixing. All rawmaterials are introduced at the start of work in the Mixing Department. The company uses the weighted-average methodof process costing. I

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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