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...