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Chapter 4 Practice Foundational.docx - Clopack Company...

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Clopack Company manufactures one product that goes through one processing department calledMixing. All raw materials are introduced at the start of work in the Mixing Department. The companyuses the weighted-average method of process costing. Its Work in Process T-account for the MixingDepartment for June follows (all forthcoming questions pertain to June):Work in Process—Mixing DepartmentDebitCreditJune 1 balance28,000Completed and transferred to FinishedGoodsMaterials120,000Direct labor79,500Overhead97,000June 30 balance?The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000in conversion cost. The June 1 work in process inventory was 100% complete with respect to materialsand 50% complete with respect to conversion. During June, 37,500 units were started into production.The June 30 work in process inventory consisted of 8,000 units that were 100% complete with respect tomaterials and 40% complete with respect to conversion.Required:1. Prepare the journal entries torecord the raw materials used in production and the direct labor costincurred.(If no entry is required for a transaction/event, select "No journal entry required" in the firstaccount field.)?

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Term
Fall
Professor
NoProfessor
Tags
Conversion of units, Supply chain management terms, materials cost

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