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Alaskan Fisheries, Inc., processes salmon for various distributors and it uses the weighted-average method in its...

Alaskan Fisheries, Inc., processes salmon for various distributors and it uses the weighted-average method in its process costing system. The company has two processing departments—Cleaning and Packing. Data relating to pounds of salmon processed in the Cleaning Department during July are presented below:

Percent Completed
Pounds of Salmon Materials Labor and Overhead
Work in process inventory, July 1 31,000 100 % 60 %
Work in process inventory, July 31 24,000 100 % 90 %

A total of 500,000 pounds of salmon were started into processing during July. All materials are added at the beginning of processing in the Cleaning Department.

Required:

Compute the Cleaning Department's equivalent units of production for materials and for labor and overhead in the month of July.

Solutions

Expert Solution

Materials Labor and Overhead
Equivalent units of production 5,31,000           5,28,600
Working:
# 1 Calculation of units completed:
Work in process inventory, July 1               31,000
Add units started during July           5,00,000
Less Work in process inventory, July 31               24,000
Units completed           5,07,000
# 2 Calculation of Equivalent units of production:
Materials Labor and Overhead
Physical Units % completion Equivalent units of production % completion Equivalent units of production
Units completed 5,07,000 100%            5,07,000 100%                      5,07,000
Work in process inventory, July 31      24,000 100%                24,000 90%                         21,600
Total 5,31,000            5,31,000                      5,28,600

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