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 9 months agoRelated Solutions
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Expenses:
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