Clopack Company manufactures one product that goes through oneprocessing department called Mixing. All raw materials areintroduced at the start of work in the Mixing Department. Thecompany uses the weighted-average method to account for units andcosts. Its Work in Process T-account for the Mixing Department forJune follows (all forthcoming questions pertain to June):
Work in Process
Clopack Company manufactures one product that goes through oneprocessing department called Mixing. All raw materials areintroduced at the start of work in the Mixing Department. Thecompany uses the weighted-average method to account for units andcosts. Its Work in Process T-account for the Mixing Department forJune follows (all forthcoming questions pertain to June):
| Work in Process |
Related questions
| 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 ProcessâMixing Department |
| June 1 balance | 43,000 | Completed and transferred to Finished Goods | ? | |
| Materials | 138,925 | |||
| Direct labor | 88,500 | |||
| Overhead | 106,000 | |||
| June 30 balance | ? | |||
| The June 1 work in process inventory consisted of 5,900 pounds with $22,770 in materials cost and $20,230 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, 38,400 pounds were started into production. The June 30 work in process inventory consisted of 9,800 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion.
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2.
| For materials, what is the sum of the cost of beginning work in process inventory plus the cost added during the period? |
3. What is the cost per equivalent unit for materials?
4. What is the cost of ending work in process inventory for materials?
5.
| What is the cost of materials transferred to finished goods? |
Weston Products manufactures an industrial cleaning compoundthat goes through three processing departmentsâGrinding, Mixing,and Cooking. All raw materials are introduced at the start of workin the Grinding Department. The Work in Process T-account for theGrinding Department for May is given below: |
| Work inProcessâGrinding Department |
| Inventory, May1 | 137,970 | Completed and transferred to | ? | |
| Materials | 630,260 | |||
| Conversion | 215,880 | |||
| Inventory, May31 | ? | |||
| The May 1 work in process inventory consisted of 73,000 poundswith $102,930 in materials cost and $35,040 in conversion cost. TheMay 1 work in process inventory was 100% complete with respect tomaterials and 80% complete with respect to conversion. During May,394,000 pounds were started into production. The May 31 inventoryconsisted of 122,000 pounds that were 100% complete with respect tomaterials and 60% complete with respect to conversion. The companyuses the weighted-average method to account for units andcosts. 1. Determine the equivalent units of production for May. 2. Determine the costs per equivalent unit for May. 3. Determine the cost of the units completed and transferred tothe Mixing Department during May. |
