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 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): June 1-balance. Materials Direct labour Overhead June 30-balance. The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 ? 2. Prepare the journal entry to record the overhead cost applied to production. (If no entry is required for a transaction/event, selec "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < A Journal entry worksheet A Record the overhead cost applied to production Note: Enter debits before credits. Transaction 1 Record entry Genreal Journal Clear entry < Prev Mon P Debit 2 3 S+ Credit View general journal THE 10 of 10 www Next > Aconte 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 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): June 1-balance Materials Direct labour Overhead June 30-balance. Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 ? 7 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 3. How many units were completed and transferred to finished goods during the period? Units completed and transferred to finished goods 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 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): June 1-balance Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 7 128,325 84,500 102,000 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 4. Compute the equivalent units of production for materials. Equivalent units of production for materials 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 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): June 1-balance. Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 2 2 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 5. Compute the equivalent units of production for conversion. Equivalent units of production for conversion [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 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): June 1-balance Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 ? The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 6. What is the amount of the cost of beginning work in process inventory plus the cost added during the period for materials? Total cost of materials [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 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): June 1-balance Materials Direct labour Overhead June 30-balance. Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods ? 128,325 84,500 102,000 ? The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 7. What is the amount of the cost of beginning work in process inventory plus the cost added during the period for conversion? Total cost of conversion 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 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): June 1-balance Materials. Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 ? ? The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 8. What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) Cost per equivalent unit for materials [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. 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): June 1-balance Materials Direct labour Overhead June 30-balance. Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,3251 84,500 102,000 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 9. What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) Cost per equivalent unit for conversion [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 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): June 1-balance. Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department. $ 40,000 Completed and transferred to finished goods ? 128,325 84,500 102,000 7 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 10. What is the cost of ending work in process inventory for materials? (Do not round intermediate calculations.) Cost of ending work-in-process inventory for 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 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): June 1-balance. Materials Direct labour Overhead June 30-balance. The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 ? 2. Prepare the journal entry to record the overhead cost applied to production. (If no entry is required for a transaction/event, selec "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < A Journal entry worksheet A Record the overhead cost applied to production Note: Enter debits before credits. Transaction 1 Record entry Genreal Journal Clear entry < Prev Mon P Debit 2 3 S+ Credit View general journal THE 10 of 10 www Next > Aconte 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 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): June 1-balance Materials Direct labour Overhead June 30-balance. Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 ? 7 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 3. How many units were completed and transferred to finished goods during the period? Units completed and transferred to finished goods 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 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): June 1-balance Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 7 128,325 84,500 102,000 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 4. Compute the equivalent units of production for materials. Equivalent units of production for materials 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 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): June 1-balance. Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 2 2 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 5. Compute the equivalent units of production for conversion. Equivalent units of production for conversion [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 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): June 1-balance Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 ? The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 6. What is the amount of the cost of beginning work in process inventory plus the cost added during the period for materials? Total cost of materials [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 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): June 1-balance Materials Direct labour Overhead June 30-balance. Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods ? 128,325 84,500 102,000 ? The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 7. What is the amount of the cost of beginning work in process inventory plus the cost added during the period for conversion? Total cost of conversion 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 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): June 1-balance Materials. Direct labour Overhead June 30-balance Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,325 84,500 102,000 ? ? The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 8. What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) Cost per equivalent unit for materials [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. 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): June 1-balance Materials Direct labour Overhead June 30-balance. Work in Process-Mixing Department $ 40,000 Completed and transferred to finished goods 128,3251 84,500 102,000 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 9. What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) Cost per equivalent unit for conversion [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 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): June 1-balance. Materials Direct labour Overhead June 30-balance Work in Process-Mixing Department. $ 40,000 Completed and transferred to finished goods ? 128,325 84,500 102,000 7 The June 1 work in process inventory consisted of 5,500 kilograms with $21,750 in materials cost and $18,250 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, 38,000 kilograms were started into production. The June 30 work in process inventory consisted of 9,000 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 10. What is the cost of ending work in process inventory for materials? (Do not round intermediate calculations.) Cost of ending work-in-process inventory for materials
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Introduction to Managerial Accounting
ISBN: 978-0078025792
7th edition
Authors: Peter Brewer, Ray Garrison, Eric Noreen
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