Question: IThe following information applies to the questions displayed below.U Clopack ompany manufactures one product that goes through one processing department called Mixing. A raw materials

 IThe following information applies to the questions displayed below.U Clopack ompanymanufactures one product that goes through one processing department called Mixing. A

IThe following information applies to the questions displayed below.U Clopack ompany manufactures one product that goes through one processing department called Mixing. A raw materials are introduced atthe 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): ork in Process-Mixing Department June 1 balance 28,000 Completed and transferred to Finished Goods 151,215 Materials Direct labor 96,500 Overhead 114,000 June 30 balance The June 1 work in process inventory consisted of 4,30 pounds with $15,240 in materials cost and $12,760 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, 36,800 pounds were started into production. The June 30 work in process inventory consisted of 9,000 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!