Cost Accounting Study: Work in Process T-Account Analysis

School: Algonquin College - Course: FINANCE FIN2328 - Subject: Accounting

Clopack Company manufactures one product that goes through one processing d materials are introduced at the start of work in the Mixing Department. The com to account for units and costs. Its Work in Process T-account for the Mixing Depa questions pertain to June): Work in Process-Mixing Department June 1, Balance$42,000 Completed and Transferred Materials136,480 to Finished Goods Direct Labour87,500 Overhead105,000 June 30, Balance? The June 1 work in process inventory consisted of 5,800 kilograms with $22,280 conversion cost. The June 1 work in process inventory was 100% complete with r with respect to conversion. During June, 38,300 kilograns were started into prod inventory consisted of 9,600 kilograms that were 100% complete with respect to to conversion. 1. Prepare the journal entries to record the raw materials used in production and No.TransactionAccount Titles and Explanation A1 Work in Process-Mixing Raw Materials Inventory (To record the raw materials used in production.) B2 Work in Process-Mixing Wages Payable (To record the direct labour cost incurred.)

department called Mixing. All raw mpany uses the weighted-average method artment for June follows (all forthcoming ? in materials cost and $19,720 in respect to materials and 60% complete duction. The June 30 work in process o materials and 50% complete with respect d the direct labour cost incurred. DebitCredit 136,480 136,480 87,500 87,500