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Help 13. 14. 15. a and b Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4,...

Question:

help
13.
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, LO4-5) [The following information applies to the questi
14.
Check, Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, LO4-5) The following information applies to the
15. a and b
The Foundational 15 (LO4-1, LO4-2, L04-3, L04-4, LO4-5) (The following information applies to the questions displayed below.)
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, LO4-5) [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 of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Work in Process-Mixing Department 40,000 Completed and transferred to Finished Goods 125,000 83.500 101,000 Materials Direct labor Overhead June 30 balance The June 1 work in process inventory consisted of 5,400 units with $22,220 in materials cost and $17.780 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, 37,900 units were started into production. The June 30 work in process inventory consisted of 8,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion Foundational 4-13 13. What is the amount of conversion cost transferred to finished goods? (Round your intermediate calculations to 2 places.) Conversion cost transferred to finished goods a 12 15 of 15 Next >
Check, Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, LO4-5) The following information applies to the questions displayed below.) Clopack Company manufactures one product that goes through one processing department called Moding. 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 40,000 Completed and transferred to Finished Goods Materials 125,000 Direct labor 83,500 Overhead 101.000 June 30 balance The June 1 work in process inventory consisted of 5,400 units with $22.220 in materials cost and $17,780 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, 37,900 units were started into production. The June 30 work in process inventory consisted of 8,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion Foundational 4-14 14. Prepare the journal entry to record the transfer of costs from Work in Process to Finished Goods. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list 15 14 of 15 !!! < Next > Prev MacBook Air
The Foundational 15 (LO4-1, LO4-2, L04-3, L04-4, LO4-5) (The following information applies to the questions displayed below.) of 15 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): June 1 balance Work in Process-xixing Department 40,000 Completed and transferred to Finished Goods 125,000 83,500 83,500 Materials Direct labor Overhead June 30 balance The June 1 work in process inventory consisted of 5.400 units with $22,220 in materials cost and $17,780 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, 37,900 units were started into production. The June 30 work in process inventory consisted of 8,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion. ances Foundational 4-15 15-a. What is the total cost to be accounted for? 15-b. What is the total cost accounted for? a. b. Total cost to be accounted for Total cost accounted for < Prev 18 of 15 Next

Answers

  • Requirement 13

Conversion cost transferred to finished goods = $ 179,400

Cost of Units Transferred Out

EUP

Cost per EUP

Total Cost

- Direct Materials

34,500

$                      3.40

$        117,300.00

- Conversion

34,500

$                      5.20

$        179,400.00 ANSWER

Total Cost transferred Out

$            296,700.00

  • Requirement 14

Accounts title

Debit

Credit

Finished Goods Inventory

$                   296,700.00

    Work In Process Inventory

$           296,700.00

(to record transfer of cost from WIP to Finished Goods)

  • Requirement 15 [a] and [b]

Costs to be accounted for:

   Cost of Beginning WIP Inventory

$           40,000.00

   Cost added to production during the period

$         309,500.00

        Total Cost to be accounted for

$         349,500.00 Answer [a]

Costs accounted for as follows:

Cost of units transferred out

$         296,700.00

Cost of Ending WIP Inventory

$           52,800.00

       Total Cost accounted for

$         349,500.00 Answer [b]

  • Related working

EUP - Weighted Average Method

Units

% Material

EUP Materials

% Conversion

EUP - Conversion

Units TRANSFERRED

34,500

100%

34,500

100%

34,500

Units of ENDING WIP

8,800

100%

8,800

50%

4,400

Equivalent Units of Production

43,300

38,900

COST per EUP

Material

Conversion

Cost of Beginning WIP

$          22,220.00

$                                  17,780.00

Cost incurred during the period

$        125,000.00

$                                184,500.00

Total Costs

Costs

$        147,220.00

Costs

$                                202,280.00

Equivalent units of production

EUP

43,300

EUP

38,900

Cost per EUP

$              3.40000

$                                      5.20000

.

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