Question

1. Prepare the journal entries to record the raw materials used in production and the direct...

Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are int

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.)

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.)

3. How many units were completed and transferred to finished goods during the period?

4. Compute the equivalent units of production for materials.

5. Compute the equivalent units of production for conversion.

6. What is the cost of beginning work in process inventory plus the cost added during the period for materials?

7. What is the cost of beginning work in process inventory plus the cost added during the period for conversion?

8. What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.)

9. What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.)

10. What is the cost of ending work in process inventory for materials? (Round your intermediate calculations to 2 places.)

11. What is the cost of ending work in process inventory for conversion? (Round your intermediate calculations to 2 places.)

12. What is the cost of materials transferred to finished goods? (Round your intermediate calculations to 2 places.)

13. What is the amount of conversion cost transferred to finished goods? (Round your intermediate calculations to 2 places.)

14. Prepare the journal entry to record the transfer of costs from Work in Process to Finished Goods. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

15-a. What is the total cost to be accounted for?

15-b. What is the total cost accounted for?

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 25,000 Completed and transferred to Finished Goods 157,080 99,500 117,000 The June 1 work in process inventory consisted of 4,000 units with $13,020 in materials cost and $11,980 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, 36,500 units were started into production. The June 30 work in process inventory consisted of 9,600 units that were 100% complete with respect to materials and 50% complete with respect to conversion.
0 0
Add a comment Improve this question
✔ Recommended Answer
Answer #1

Sign Up to Unlock the answer FREE

Already have an account? Log in

Answer with working notes is given below

Credit Debit $256,580 1 General Journal Work in process - Mixing Department To Raw Material inventory To Wages payable (To re

Add a comment
Know the answer?
Add Answer to:
1. Prepare the journal entries to record the raw materials used in production and the direct...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
  • Required: 1. a)Prepare the journal entries to record the raw materials used in production and the...

    Required: 1. a)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.) b) 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.) c) How many units were completed and transferred to finished goods...

  • Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials...

    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 June 1 balance 28,000 Completed and transferred to Finished Goods ? Materials 120,000 Direct labor 79,500 Overhead 97,000 June 30 balance ?...

  • Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials...

    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 June 1 balance 32,000 Completed and transferred to Finished Goods Materials 141, 245 Direct labor 90,500 Overhead 108,000 June 30 balance...

  • The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes...

    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 June 1 balance   45,000 Completed and transferred to Finished Goods   ? Materials   140,400  ...

  • Required information The Foundational 15 (LO4-1, L04-2, L04-3, LO4-4, LO4-5) (The following information applies to the...

    Required information The Foundational 15 (LO4-1, L04-2, L04-3, LO4-4, 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): June 1 balance Work in Process-Mixing...

  • Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, LO4-4, LO4.5] [The following information applies to the...

    Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, LO4-4, 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): June 1 balance Work in Process-Mixing...

  • Required information [The following information applies to the questions displayed below.) Clopack Company manufactures one product...

    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): Work in Process Mixing Department 43,000 Completed and transferred to Finished Goods 138,925 88,500 106,000...

  • Required information [The following information applies to the questions displayed below.] Clopack Company manufactures one product...

    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): Work in Process—Mixing Department June 1 balance 30,000 Completed and transferred to Finished Goods ?...

  • The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes...

    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 June 1 balance   45,000 Completed and transferred to Finished Goods   ? Materials   140,400  ...

  • Required information [The following information applies to the questions displayed below.] Clopack Company manufactures one product...

    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): Work in Process—Mixing Department June 1 balance 32,000 Completed and transferred to Finished Goods ?...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT