60.1K

Verified Solution

Link Copied!

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.) Journal entry worksheet Record the transfer of costs from Work in Process to Finished Goods. Note: Enter debits before credits. 15-a. What is the total cost to be accounted for? 15b. What is the total cost accounted for? 10. What is the cost of ending work in process inventory for materials? (Round your intermediate calc 13. What is the amount of conversion cost transferred to finished goods? (Round your intermediate Required information The Foundational 15 (Algo) [LO5-1, LO5-2, LO5-3, LO5-4, LO5-5] [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): The June 1 work in process inventory consisted of 4,700 units with $16,040 in materials cost and $12,960 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, 37,200 units were started into production. The June 30 work in process inventory consisted of 8,200 units that were 100% complete with respect to materials and 50% complete with respect to conversion. 11. What is the cost of ending work in process inventory for conversion? (Round your intermediate co 12. What is the cost of materials transferred to finished goods? (Round your intermediate calculat

Answer & Explanation Solved by verified expert

See Answer