I keep getting this wrong Required information(The following information applies to the questions displayed below.)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. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questionspertain to June):Work in Process-Mixing DepartnentDebitCreditCompleted and transferred to Finished GoodsJune 1 balanceMaterialsDirect laborOverheadJune 30 balance38,000123,70582,500100,000The June 1 work in process inventory consisted of 5,300 units with $20,680 in materials cost and $17,320 in conversioncost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respectto conversion. During June, 37,800 units were started into production. The June 30 work in process inventory consisted of8,600 units that were 100% complete with respect to materials and 50% complete with respect to conversion.12. What is the cost of materials transferred to finished goods? (Round your intermediate calculations to 2 places.)O Answer is complete but not entirely correct.Cost of matenals transferred to finished goods293 250 O

cost of materials transferred to finished goods = materials units completed and transferred * unit…

Clopack Company manutactures 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): Work in Process-Mixing Departnent Debit Credit Conpleted and transferred to Finished Goods June 1 balance Materials Direct labor Overhead June 30 ba lance 38,000 123, 705 82, 500 100,e00 The June 1 work in process inventory consisted of 5,300 units with $20,680 in materials cost and $17,320 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, 37,800 units were started into production. The June 30 work in process inventory consisted of 8,600 units that were 100% complete with respect to materials and 50% complete with respect to conversion. 12. What is the cost of materials transferred to finished goods? (Round your intermediate calculations to 2 2 places.) Answer is complete but not entirely correct. Cost of matenals tranafermed to finished goods 293.250 O

Clopack Company manutactures 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): Work in Process-Mixing Departnent Debit Credit Conpleted and transferred to Finished Goods June 1 balance Materials Direct labor Overhead June 30 ba lance 38,000 123, 705 82, 500 100,e00 The June 1 work in process inventory consisted of 5,300 units with $20,680 in materials cost and $17,320 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, 37,800 units were started into production. The June 30 work in process inventory consisted of 8,600 units that were 100% complete with respect to materials and 50% complete with respect to conversion. 12. What is the cost of materials transferred to finished goods? (Round your intermediate calculations to 2 2 places.) Answer is complete but not entirely correct. Cost of matenals tranafermed to finished goods 293.250 O

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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