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Clopack Company manufactures one product that goes through one processing department called Mixing. All raw 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 of process costing. 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 36,000 Completed and transferred to Finished Goods ?
Materials 122,440
Direct labor 81,500
Overhead 99,000
June 30 balance ?

The June 1 work in process inventory consisted of 5,200 units with $19,130 in materials cost and $16,870 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, 37,700 units were started into production. The June 30 work in process inventory consisted of 8,400 units 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.)

10. What is the cost of ending work in process inventory for materials? (Round your intermediate calculations to 2 places.)

11. What is the cost of ending work in process inventory for conversion? (Round your intermediate calculations to 2 places.)

12. What is the cost of materials transferred to finished goods? (Round your intermediate calculations to 2 places.)

13. What is the amount of conversion cost transferred to finished goods? (Round your intermediate calculations to 2 places.)

Business   Accounting   
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Answer #1
Materials Conversion
Units tranferred out 34500 34500 =5200+37700-8400
Ending work in process 8400 4200 =8400*50%
Equivalent units 42900 38700
Materials Conversion
Beginning work in process 19130 16870
Costs added during June 122440 180500
Total costs 141570 197370
Divide by Equivalent units 42900 38700
Cost per Equivalent unit 3.30 5.10
9
Cost per equivalent unit for conversion 5.10
10
Cost of ending work in process inventory for materials 27720 =8400*3.30
11
Cost of ending work in process inventory for conversion 21420 =8400*50%*5.10
12
Cost of materials transferred to finished goods 113850 =34500*3.30
13
Conversion cost transferred to finished goods 175950 =34500*5.10
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