Question & Answer: Required information The Foundational 15 [LO4-1, LO4-2, LO4-3, LO4-4, L04-5)] [The following information applies to the questions disp…..

Required information The Foundational 15 [LO4-1, LO4-2, LO4-3, LO4-4, L04-5)] [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) Work in Process-Mixing Department June 1 balance 32,000 Completed and transferred to Finished Goods Materials Direct labor Overhead June 30 balance 141,245 90,500 108,000 The June 1 work in process inventory consisted of 4,900 units with $17,380 in materials cost and $14,620 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, 37,400 units were started into production. The June 30 work in process inventory consisted of 7,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion Foundational 4-3 3. How many units were completed and transferred to finished goods during the period? Completed and transferred out

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Required information The Foundational 15 [LO4-1, LO4-2, LO4-3, LO4-4, L04-5)] [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) Work in Process-Mixing Department June 1 balance 32,000 Completed and transferred to Finished Goods Materials Direct labor Overhead June 30 balance 141,245 90,500 108,000 The June 1 work in process inventory consisted of 4,900 units with $17,380 in materials cost and $14,620 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, 37,400 units were started into production. The June 30 work in process inventory consisted of 7,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion Foundational 4-3 3. How many units were completed and transferred to finished goods during the period? Completed and transferred out

Expert Answer

 

work in process june 1 4900

started into production during month 37400

total units = 42300

deduct work in process june 30th 7800 units

42300 – 7800 = 34500

completed and transferred during the month is 34500

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