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Requlred Informatlon The Foundational 15 LO4-1, LO4-2, LO4-3, LO4-4, LO4-5] The following information applies to the questions displayed below Part 1 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): points Work in Process-Mixing Department Print June 1 balance 28,88 Completed and transferred to Finished Goods Materials Direct labor Overhead June 38 balance 147,63e 93,580 111,88e References The June 1 work in process inventory consisted of 4,600 units with $15,000 in materials cost and $13,000 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, 37100 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. Foundatlonal 4-1 Requlrec: 1. Prepare the journal entries to record the raw materials used in production and the direct labor cost incurred. (If no entry Is requlred for a transactlon/event, select “No journal entry requlred” In the first eccount field.) View transaction list Journal entry worksheet Record the raw materials used in production Note: Enter debits before credits Transaction General Journal Debit Record entry Clear entry View general journal
Expert Answer
Transaction | General Journal | Debit | Credit |
1. | Work in process-Mixing | $147,630 | |
Raw Materials Inventory | $147,630 | ||
2. | Work in process-Mixing | $93,500 | |
Wages Payable | $93,500 |