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Clopack Company manufactures one product that goes through one processing department called Mixing

Accounting Nov 30, 2020

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 30,000 Completed and transferred to Finished Goods ? Materials Direct labour Overhead 142,840 91,500 109,000 June 30-balance ? The June 1 work in process inventory consisted of 4,800 pounds with $17,140 in materials cost and $12,860 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, 37,300 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 50% complete with respect to conversion. 3. How many units were completed and transferred to finished goods during the period?

Expert Solution

                 
Beginning work in process inventory 4,800 Completed & transferred 34,100
started during the year   37,300 Ending work in process 8,000
units to be accounted   42,100 units accounted for   42,100
3) Completed & transferred out   34,100

 

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