The june 1 work in process inventory consisted of 5000

Reference no: EM13588741

Lopack 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:

What is the amount of conversion cost transferred to finished goods?

Cost of units transferred to finished goods for conversion.

Reference no: EM13588741

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