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 balance32,000Completed and transferred to Finished Goods?
Materials141,245
Direct labor90,500
Overhead108,000
June 30 balance?

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.

3. How many units were completed and transferred to finished goods during the period?
4. Compute the equivalent units of production for materials.
5. Compute the equivalent units of production for conversion.
8. What is the cost per equivalent unit for materials?
10. What is the cost of ending work in process inventory for materials?

Clopack Company

3. Units completed and transferred to finished goods during the period = 34,500 units

4. The equivalent units of production for materials =  42,300 units

5. The equivalent units of production for conversion = 38,400 units

8. The cost per equivalent unit for materials = $3.75

10. The cost of ending work in process inventory for materials = $29,250

Explanation:

a) Data and Calculations:

T-account:

Work in Process - Mixing Department

Account Titles       Debit       Credit

June 1 balance 32,000

Materials          141,245

Direct labor      90,500

Overhead       108,000

Transferred to Finished Goods ?

June 30 balance                        ?

                                           Units     Materials    Conversion   Total

Beginning WIP                   4,900      $17,380       $14,620   $32,000

Degree of completion                           100%             60%

Started into production  37,400       141,245       198,500    339,745

Total units available       42,300    $158,625     $213,120   $371,745

Ending WIP                       7,800           100%             50%

Transferred out             34,500

Equivalent units of production      Materials            Conversion

Started and completed    34,500   34,500 (100%)  34,500 (100%)

Ending WIP                          7,800     7,800 (100%)    3,900 (50%)

Total equivalent units                     42,300              38,400

Cost per equivalent unit:   Materials    Conversion

Total cost of production    $158,625      $213,120

Total equivalent units          42,300         38,400

Cost per equivalent unit    $3.75            $5.55

Cost assigned to:                         Materials    Conversion   Total

Units started and completed      $129,375    $191,475      $320,850

Ending Work in Process                 29,250       21,645           50,895

Total cost assigned                     $158,625    $213,120       $371,745

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