Question

In: Accounting

Hielta Oy, a Finnish company, processes wood pulp for various manufacturers of paper products. Data relating...

Hielta Oy, a Finnish company, processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below:

  

Percent Completed
Tons of Pulp Materials Labor and Overhead
  Work in process, June 1 81,700     82% 25%
  Work in process, June 30 51,900     46% 17%
  Started into production during June 300,600    

  

Required:
1.

Compute the number of tons of pulp completed and transferred out during June.

  

  

2. Compute the equivalent units of production for materials and for labor and overhead for June.

Solutions

Expert Solution

1) Calculation of number of tons of pulp completed & transferred
particulars amount
Work in process june 1 $                   81,700.00
Add: Started in production june $               3,00,600.00
less: Work in process june 30 $                   51,900.00
tons completed & transferred $               3,30,400.00
2) calculation of equivalent unit of production
Particulars Material Labour & OH
Completed & transferred $       3,30,400.00 $               3,30,400.00
WIP ending $          23,874.00 $                     8,823.00
equivalent unit of production $       3,54,274.00 $               3,39,223.00
Working
WIP - ending 51900*46% 51900*17%

ekkarill92 answered 10 months ago
Next > < Previous

Related Solutions

Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process...
Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company’s production schedule for May: Percent Completed Tons of Pulp Materials Conversion Work-in-Process Inventory, May 1 3,000 100 % 50 % Started during May 14,000 Units to account for 17,000 Units from beginning Work-in-Process, which...
Preparing a Quantity Schedule – FIFO Method (20 marks) Hielta Oy, a Finnish company, processes wood...
Preparing a Quantity Schedule – FIFO Method Hielta Oy, a Finnish company, processes wood pulp for various manufacturers of paper products. Data relating to tonnes of pulp processed during June are provided below: Percentage Completed Tonnes of Pulp Materials Labour and Overhead Work in process, June 1 20,000 90% 80% Work in process, June 30 30,000 60% 40% Started into processing during June 190,000 REQUIRED: Prepare a quantity schedule for June assuming that Hielta Oy uses the FIFO method.
Weatherly Lumber Company process wood pulp for manufacturing various paper products. The company employs aa process...
Weatherly Lumber Company process wood pulp for manufacturing various paper products. The company employs aa process costing system for its manufacturing operations, All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company's production schedule for My: Work-in-Process Inventory, May 1 Tons of pulp 5,000 Materials 100% conversion 50% Started during May Tons of pulp 18,000 Units to account for 23,000 Units from beginning Work-in-Process, which were...
Stora Enso is a Finnish pulp and paper manufacturing company. It discloses in its 1999 consolidated...
Stora Enso is a Finnish pulp and paper manufacturing company. It discloses in its 1999 consolidated Annual Report, the following items: Excerpted from the Consolidated balance sheet Assets € mill. 1999 1998 (…) Shares, associated companies 165.5 334.1 Shares, other companies 280.4 128.8 In the notes to its financial statements, the Stora Enso provides explanations relating to these two items: Excerpts from the notes Note 12 Associated companies € mill. 1999 1998 Historical cost Jan. 1 289.9 273.1 Translation difference...
Enviro Green Company processes wood pulp into two products. During May the joint costs of processing...
Enviro Green Company processes wood pulp into two products. During May the joint costs of processing were $50,000. Production and sales value information for the month were as follows: Product Kilograms Produced Sales Value at Splitoff Point Separable Costs Paper 125,000 $63,000 $221,000 Cardboard 96,000 46,000 262,000 Paper sells for $2.71 a kilogram and cardboard sells for $3.10 a kilogram. There were no beginning or ending inventories for May. Required: 1) Determine the amounts to be allocated to each product...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production of various paper goods. Revenue and costs associated with a ton of pulp follow: Selling price $ 23 Expenses: Variable $ 13 Fixed (based on a capacity of 98,000 tons per year) 6 19 Net operating income $ 4 Hrubec Products has just acquired a small company that manufactures paper cartons. This company will be treated as a division of Hrubec with full profit...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production of various paper goods. Revenue and costs associated with a ton of pulp follow: Selling price $ 21 Expenses: Variable $ 12 Fixed (based on a capacity of 103,000 tons per year) 6 18 Net operating income $ 3 Hrubec Products has just acquired a small company that manufactures paper cartons. This company will be treated as a division of Hrubec with full profit...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production of various paper goods. Revenue and costs associated with a ton of pulp follow: Selling price $ 21 Expenses: Variable $ 11 Fixed (based on a capacity of 96,000 tons per year) 6 17 Net operating income $ 4 Hrubec Products has just acquired a small company that manufactures paper cartons. This company will be treated as a division of Hrubec with full profit...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production of various paper goods. Revenue and costs associated with a ton of pulp follow: Selling price $ 22 Expenses: Variable $ 12 Fixed (based on a capacity of 95,000 tons per year) 6 18 Net operating income $ 4 Hrubec Products has just acquired a small company that manufactures paper cartons. This company will be treated as a division of Hrubec with full profit...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production...
Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production of various paper goods. Revenue and costs associated with a ton of pulp follow: Selling price $ 24 Expenses: Variable $ 15 Fixed (based on a capacity of 101,000 tons per year) 6 21 Net operating income $ 3 Hrubec Products has just acquired a small company that manufactures paper cartons. This company will be treated as a division of Hrubec with full profit...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT