Clopack company manufactures one product that goes through

Reference no: EM13589994

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 to account for units and costs. 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	?
Materials	120,000	to Finished Goods
Direct labor	79,500
Overhead	97,000

June 30 balance	?

The June 1 work in process inventory consisted of 5,000 pounds 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 pounds were started into production. The June 30 work in process inventory consisted of 8,000 pounds that were 100% complete with respect to materials and 40% complete with respect to conversion.

Required:

Prepare the journal entries to record the raw materials used in production and the direct labor cost incurred.

Also what are the equivalent units of production for conversion and what is the total cost accounted for/to be accounted for?

Reference no: EM13589994

Questions Cloud

During 2014 pretenders furniture company purchases a : during 2014 pretenders furniture company purchases a carload of wicker chairs. the manufacturer sells the chairs to

The selling and administrative expenses are 28000 the : mademoiselle company produces womens handbags. the cost of producing 1200 handbags is as followsnbspnbspnbspnbspnbsp

During 2014 pretenders furniture company purchases a : during 2014 pretenders furniture company purchases a carload of wicker chairs. the manufacturer sells the chairs to

Toyota motor corporation uses target costing assume that : toyota motor corporation uses target costing. assume that toyota marketing personnel estimate that the competitive

Clopack company manufactures one product that goes through : clopack company manufactures one product that goes through one processing department called mixing. all raw materials

What are some of the risks an investor assumes by using : 1. what are some of the risks an investor assumes by using historical trends analysis to make investment decisions?2.

Parent corporation acquired 75 percent of signature : parent corporation acquired 75 percent of signature companys voting stock on january 1 201x at underlying book value.

You invest 10000 at 8 you want to take out 6000 in 5 years : you invest 10000 at 8. you want to take out 6000 in 5 years. how much will you have in 10 years?you invest 3000 in y1

On march 20 terrells petty cash fund of 100 is replenished : on march 20 terrells petty cash fund of 100 is replenished when the fund contains 7 in cash and receipts for postage 52

User Account

All Pages