Managerial Accounting Fall 2013 ACC 211 CHAPTER 4 HOMEWORK

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 to account for units and costs. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June):

The June 1 work in process inventory consisted of 5,000 pounds 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 pounds were started into production. The June 30 work in process inventory consisted of 8,000 pounds that were 100% complete with respect to materials and 40% complete with respect to conversion.

How many units were completed and transferred to finished goods during the period? 

 Compute the equivalent units of production for materials. Compute the equivalent units of production for conversion. What is the amount of the cost of beginning work in process inventory plus the cost added during the period for materials? What is the amount of the cost of beginning work in process inventory plus the cost added during the period for conversion? What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) What is the cost per equivalent unit for conversion? What is the cost of ending work in process for materials? (Do not round your intermediate calculation.) What is the cost of ending work in process for conversion? What is the cost of materials transferred to finished goods? (Do not round your intermediate calculation.) What is the amount of conversion cost transferred to finished goods? What is the total cost to be accounted for? What is the total cost accounted for?