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 Materials Direct labor Overhead June 30 balance Debit Foundational 5-5 (Static) Credit 28,000 Completed and transferred to Finished Goods 120,000 79,500 97,000 The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 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 to materials and 40% complete with respect to conversion. Equivalent units of production for conversion 5. Compute the equivalent units of production for conversion. ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
Materials
Direct labor
Overhead
June 30 balance
Debit
Foundational 5-5 (Static)
Credit
28,000 Completed and transferred to
Finished Goods
120,000
79,500
97,000
The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and
$12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to
materials and 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 to materials and 40% complete with respect to conversion.
Equivalent units of production for conversion
5. Compute the equivalent units of production for conversion.
?
Transcribed Image Text: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 Materials Direct labor Overhead June 30 balance Debit Foundational 5-5 (Static) Credit 28,000 Completed and transferred to Finished Goods 120,000 79,500 97,000 The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 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 to materials and 40% complete with respect to conversion. Equivalent units of production for conversion 5. Compute the equivalent units of production for conversion. ?
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