Required information The Foundational 15 [LO4-1, LO4-2, LO4-3, L04-4, LO4-5] [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): Work in Process-Mixing Department Completed and transferred to Finished June 1 balance 28,000 ? Goods Materials 120,000 79,500 97,000 Direct labor Overhead June 30 balance The June 1 work in process inventory consisted of 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 that were 100% complete with respect to materials and 40% complete with respect to conversion. Foundational 4-13 13. What is the amount of conversion cost transferred to finished goods? 15-a. What is the total cost to be accounted for? 15-b. What is the total cost accounted for?
Required information The Foundational 15 [LO4-1, LO4-2, LO4-3, L04-4, LO4-5] [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): Work in Process-Mixing Department Completed and transferred to Finished June 1 balance 28,000 ? Goods Materials 120,000 79,500 97,000 Direct labor Overhead June 30 balance The June 1 work in process inventory consisted of 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 that were 100% complete with respect to materials and 40% complete with respect to conversion. Foundational 4-13 13. What is the amount of conversion cost transferred to finished goods? 15-a. What is the total cost to be accounted for? 15-b. What is the total cost accounted for?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Required information
The Foundational 15 [LO4-1, LO4-2, LO4-3, L04-4, LO4-5]
[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):
Work in Process-Mixing Department
Completed and transferred to Finished
June 1 balance
28,000
?
Goods
Materials
120,000
79,500
97,000
Direct labor
Overhead
June 30 balance
The June 1 work in process inventory consisted of 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 that were 100% complete with respect to materials and 40% complete with respect to conversion.
Foundational 4-13
13. What is the amount of conversion cost transferred to finished goods?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8c0242a7-4615-4022-be25-74bf8628f39b%2Fca9b813f-4811-48da-aa7b-0c7ab897ba9b%2Fx08fofr.png&w=3840&q=75)
Transcribed Image Text:Required information
The Foundational 15 [LO4-1, LO4-2, LO4-3, L04-4, LO4-5]
[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):
Work in Process-Mixing Department
Completed and transferred to Finished
June 1 balance
28,000
?
Goods
Materials
120,000
79,500
97,000
Direct labor
Overhead
June 30 balance
The June 1 work in process inventory consisted of 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 that were 100% complete with respect to materials and 40% complete with respect to conversion.
Foundational 4-13
13. What is the amount of conversion cost transferred to finished goods?
Transcribed Image Text:15-a. What is the total cost to be accounted for?
15-b. What is the total cost accounted for?
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