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 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 Work in Process-Mixing Department Debit Credit 28,000 120,000 79,500 97,000 Completed and transferred to Finished Goods ? The June 1 work in process inventory includes 5,000 units 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 units were started into production. The June 30 work in process inventory consisted of 8,000 units 100% complete with respect to materials and 40% complete with respect to conversion. 2. Prepare the journal entry to record the overhead cost applied to production. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 Record the overhead cost applied to production.
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 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 Work in Process-Mixing Department Debit Credit 28,000 120,000 79,500 97,000 Completed and transferred to Finished Goods ? The June 1 work in process inventory includes 5,000 units 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 units were started into production. The June 30 work in process inventory consisted of 8,000 units 100% complete with respect to materials and 40% complete with respect to conversion. 2. Prepare the journal entry to record the overhead cost applied to production. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 Record the overhead cost applied to production.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Denger
![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 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
Work in Process-Mixing Department
Debit
Credit
28,000
120,000
79,500
97,000
Completed and transferred to Finished Goods
?
The June 1 work in process inventory includes 5,000 units 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 units were started into production. The June 30 work in process inventory consisted of
8,000 units 100% complete with respect to materials and 40% complete with respect to conversion.
2. Prepare the journal entry to record the overhead cost applied to production.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
<
1
Record the overhead cost applied to production.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F68ef482c-cb7a-4ad1-a001-b5188517117e%2F83a5f40c-b75d-4a8f-a6d4-f502063e1c88%2Fqh2a7ta_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 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
Work in Process-Mixing Department
Debit
Credit
28,000
120,000
79,500
97,000
Completed and transferred to Finished Goods
?
The June 1 work in process inventory includes 5,000 units 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 units were started into production. The June 30 work in process inventory consisted of
8,000 units 100% complete with respect to materials and 40% complete with respect to conversion.
2. Prepare the journal entry to record the overhead cost applied to production.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
<
1
Record the overhead cost applied to production.
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