Question

In: Accounting

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 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

Solution

Material Labor and overhead
Equivalent Units of Production                  482,000           476,900

Working

Statement of Equivalent Units(Weighted average)
Material Labor and overhead
Units Complete % Equivalent units Complete % Equivalent units
Transferred                  465,000 100%           465,000.0 100%       465,000
Closing WIP                    17,000 100%              17,000.0 70%         11,900
Total                  482,000 Total           482,000.0 Total       476,900

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

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...
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...
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...
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...
25. Assigning Costs to Products: Weighted Average Method. Sydney, Inc., uses the weighted average method for...
25. Assigning Costs to Products: Weighted Average Method. Sydney, Inc., uses the weighted average method for its process costing system. The Assembly department at Sydney, Inc., began April with 6,000 units in work-in-process inventory, all of which were completed and transferred out during April. An additional 8,000 units were started during the month, 3,000 of which were completed and transferred out during April. A total of 5,000 units remained in workin- process inventory at the end of April and were...
Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for...
Highlands Company uses the weighted-average method in its process costing system. It 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 82,000 82 % 24 % Work in process, June 30 51,400 42 % 16 % Started into production during June 301,900 Compute the number of tons of pulp completed and transferred out during...
Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for...
Highlands Company uses the weighted-average method in its process costing system. It 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 80,500 90 % 29 % Work in process, June 30 50,400 43 % 16 % Started into production during June 300,700 Required:   1. Compute the number of tons of pulp completed and transferred...
Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for...
Highlands Company uses the weighted-average method in its process costing system. It 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 86 % 22 % Work in process, June 30 51,200 45 % 18 % Started into production during June 301,800 Required:   1. Compute the number of tons of pulp completed and transferred...
Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for...
Highlands Company uses the weighted-average method in its process costing system. It 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 80,000 81 % 29 % Work in process, June 30 51,100 41 % 16 % Started into production during June 300,800 Required:   1. Compute the number of tons of pulp completed and transferred...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 65,000 $ 54,200 $ 21,800 $ 32,300 Units started in process 619,000 Units transferred out 640,000 Work in process inventory, ending 44,000 Cost added during the month $ 717,220 $ 269,480 $ 398,000 The beginning work in process inventory was 90%...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT