Clopack company manufactures one product that goes through

Assignment Help Accounting Basics

Reference no: EM13587647

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	27,000	Completed and transferred	?
Materials	151,100	to Finished Goods
Direct labor	95,500
Overhead	113,000

June 30 balance	?

The June 1 work in process inventory consisted of 4,400 pounds with $14,100 in materials cost and $12,900 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 36,900 pounds were started into production. The June 30 work in process inventory consisted of 8,800 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion.

Required:

Prepare the journal entries to record the raw materials used in production and the direct labor cost incurred.

Reference no: EM13587647

Questions Cloud

The oscillations of an actual spring-block system slowly : the oscillations of an actual spring-block system slowly reduce in amplitude and finally the system comes to a halt.

On september 1 2013 adele company issued 9 1500000 of bonds : on september 1 2013 adele company issued 9 1500000 of bonds to partially fund construction of a new building. the bonds

A person who weighs 653 n steps onto a spring scale in the : a person who weighs 653 n steps onto a spring scale in the bathroom and the spring compresses by 0.788 cm. a what is

The value of delta g for the conversion of : the value of delta g for the conversion of 3-phosphoglycerate to 2-phosphoglycerate 2pg is 4.4 kjmol. if the

Clopack company manufactures one product that goes through : clopack company manufactures one product that goes through one processing department called mixing. all raw materials

Question both hio hypoiodous acid and hio3 iodic acid are : question both hio hypoiodous acid and hio3 iodic acid are both weak acids.a. what is the oxidation state of the iodine

Comet company began operations in 2010 and adopted the fifo : comet company began operations in 2010 and adopted the fifo method of inventory pricing. during 2012 comet company

During 2011 comet cares inc decided to sell an unprofitable : during 2011 comet cares inc. decided to sell an unprofitable segment of its business. the sale of this segment

Complete the contribution format income statement at : lucky products markets two computer games predator and runway. a contribution format income statement for a recent

User Account

All Pages