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

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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 45,000 Completed and transferred to Finished Goods ? 140,400 89,500 107,000 ? The June 1 work in process inventory consisted of 6,000 units with $24,250 in materials cost and $20,750 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, 38,500 units were started into production. The June 30 work in process inventory consisted of 10,000 units that were 100% complete with respect to materials and 50% complete with respect to conversion. 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.) 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.) View transaction list Journal entry worksheet < 1 Record the transfer of costs from Work in Process to Finished Goods. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 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 45,000 Completed and transferred to Finished Goods ? 140,400 89,500 107,000 ? The June 1 work in process inventory consisted of 6,000 units with $24,250 in materials cost and $20,750 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, 38,500 units were started into production. The June 30 work in process inventory consisted of 10,000 units that were 100% complete with respect to materials and 50% complete with respect to conversion. 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.) 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.) View transaction list Journal entry worksheet < 1 Record the transfer of costs from Work in Process to Finished Goods. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal