Question
In: Accounting
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 completed and transferred out during May Tons of pulp, 5,000
Started and complete during May. 10,800
Work-in-Process Inventory, May 31 Tons of pulp 7,00 materials 100% Conversion 50%
Total units accounted for 23,000
Work-in-Process Inventory, May 1
Direct Materials $82,100
Conversion 61,342
Costs Incurred during May
Direct materials 283,140
Conversion 358,280
1. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method.
2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the FIFO method.
Solutions
ekkarill92 answered 3 months agoRelated 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...
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....
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...
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
$
14
Fixed (based on a capacity of
104,000 tons per year)
6
20
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
$14
Fixed (based on a capacity of
100,000 tons per
year)
6
20
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 responsibility....
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
97,000 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...
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