Question
In: Accounting
Washington State Fisheries, Inc., processes salmon for various distributors. Two departments, processing and packaging, are involved....
Washington State Fisheries, Inc., processes salmon for various distributors. Two departments, processing and packaging, are involved. Data relating to tons of salmon sent to the processing department during May follow: Percent Completed Tons of Salmon Direct Materials Conversion Work-in-process inventory, May 1 1,140 80 % 70 % Work-in-Process inventory, May 31 2,960 50 % 30 % Started processing during May 7,300
Required: 1. Calculate the number of tons completed and transferred out during the month.
2. Calculate the number of equivalent units for both direct materials and conversion for the month of May, assuming that the company uses the weighted-average method.
3. How would your answer in requirement 2 change if the percentage of completion in ending inventory were as follows: direct materials 30%, conversion 40%?
Solutions
Expert Solution
If you like my explanation, please give a "thumbs up"
Final answers marked in yellow:
For calculation ref:
ekkarill92 answered 1 year agoRelated Solutions
Alaskan Fisheries, Inc. processes salmon for various distributors. Two departments are involved: Department 1 and Department...
Alaskan Fisheries, Inc. processes salmon for various
distributors. Two departments are involved: Department 1 and
Department 2. Data relating to pounds of salmon processed in
Department 1 during July are presented below: Work in process, July
1 33,000 pounds at 40% complete* Started into processing in July
445,000 pounds Work in process, July 31 38,000 pounds at 70%
complete* *Percentage completion refers to labour and overhead
only. All materials are added at the beginning of processing in
department 1. Labour...
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
29,000
100
%
56
%
Work in process inventory, July 31
23,000
100
%
70
%
A total of 520,000 pounds of...
laskan Fisheries, Inc., processes salmon for various distributors and it uses the weighted-average method in its...
laskan 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
32,000
100
%
56
%
Work in process
inventory, July 31
17,000
100
%
70
%
A total of 450,000
pounds of...
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...
Kitty Inc. processes fish for various cat food distributors. Two departments are involved Department 1 and...
Kitty Inc. processes fish for various cat food distributors. Two
departments are involved Department 1 and Department 2. Data
relating to kilograms of Cat Food processed in Department 1 during
July are presented below:
Kg. of Cat Food
Percentage Completed
WIP, May 1st
20,000
30%
Started into process during May
380,000
-
WIP, May 31st
25,000
60%
All materials are added at the beginning of processing in
Department 1. Labour and overhead (conversion) costs are incurred
uniformly throughout processing.
Required:...
Kitty Inc. processes fish for various cat food distributors. Two departments are involved Department 1 and...
Kitty Inc. processes fish for various cat food distributors. Two
departments are involved Department 1 and Department 2. Data
relating to kilograms of Cat Food processed in Department 1 during
July are presented below:
WIP, May 1st
20,000
30%
Started into process during May
380,000
-
WIP, May 31st
25,000
60%
All materials are added at the beginning of processing in
Department 1. Labour and overhead (conversion) costs are incurred
uniformly throughout processing.
Required:
Prepare quantity schedules and a computation...
Selzik Company makes super-premium cake mixes that go through two processing departments, Blending and Packaging. The...
Selzik Company makes super-premium cake mixes that go through
two processing departments, Blending and Packaging. The following
activity was recorded in the Blending Department during July:
Production
data:
Units
in process, July 1 (materials 100% complete; conversion 30%
complete)
10,000
Units
started into production
170,000
Units in
process, July 31 (materials 100% complete; conversion 40%
complete)
20,000
Cost data:
Work in process inventory, July
1:
Materials cost
$
8,500
Conversion cost
$...
Selzik Company makes super-premium cake mixes that go through two processing departments, Blending and Packaging. The...
Selzik Company makes
super-premium cake mixes that go through two processing
departments, Blending and Packaging. The following activity was
recorded in the Blending Department during July:
Production data:
Units in process, July 1 (materials 100%
complete; conversion 30% complete)
10,000
Units started into production
170,000
Units in process, July 31 (materials 100%
complete; conversion 40% complete)
20,000
Cost
data:
Work in process inventory, July
1:
Materials cost
$
8,500
Conversion cost
$...
Selzik Company makes super-premium cake mixes that go through two processing departments—Blending and Packaging. The following...
Selzik Company makes super-premium cake mixes that go through
two processing departments—Blending and Packaging. The following
activity was recorded in the Blending Department during July:
Production data:
Units in process, July 1 (materials 100% complete; conversion
30% complete)
10,000
Units started into production
170,000
Units in process, July 31 (materials 100% complete; conversion
40% complete)
20,000
Cost data:
Work in process inventory, July 1:
Materials cost
$
8,500
Conversion cost
$
4,900
Cost added during the month:
Materials cost
$...
Selzik Company makes super-premium cake mixes that go through two processing departments—Blending and Packaging. The following...
Selzik Company makes super-premium cake mixes that go through
two processing departments—Blending and Packaging. The following
activity was recorded in the Blending Department during July:
Production data:
Units in process, July 1
(materials 100% complete; conversion 30% complete)
10,000
Units started into
production
170,000
Units in process, July 31
(materials 100% complete; conversion 40% complete)
20,000
Cost data:
Work in process inventory, July
1:
Materials cost
$
8,500
Conversion cost
$
4,900
Cost added during the
month:
Materials cost
$...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Describe the acidity and pKa of hydrogen atoms that are bonded to carbon atoms adjacent to...
- Do you think it is fair for students to be admitted or denied entrance into a...
- 1. What do you think is behind the emotion of jealousy? Why are some people more...
- Ironmaking and steelmaking face challenges of reducing energy consumption and environment pollution. What is your proposal...
- Discuss the promotion strategies of Starbucks in the Italian market. What modifications to the company’s product...
- For the following testing scenario, identify specific ethical considerations or potential violations committed by Dr. Jefferson...
- Search the Internet and/or the University Library using a phrase such as, "companies that use data...
ADVERTISEMENT