Question
In: Accounting
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 June.
|
Compute the equivalent units of production for materials and for labor and overhead for June.
|
Solutions
ekkarill92 answered 2 years agoRelated Solutions
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...
Note: This is one question (1) Highlands Company uses the weighted-average method in its process costing...
Note: This is one question
(1) 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
81,900
81
%
26
%
Work in process, June 30
51,000
43
%
12
%
Started into production during June
302,000
Required:
1. Compute the number of...
Scheney Company uses the weighted-average method in its process costing system. The company's work in process...
Scheney Company uses the weighted-average method in its process
costing system. The company's work in process inventory on March 31
consisted of 20,000 units. The units in the ending work in process
inventory were 100% complete with respect to materials and 70%
complete with respect to labor and overhead. If the cost per
equivalent unit for August was $2.50 for materials and $4.75 for
labor and overhead, the total cost in the March 31 work in process
inventory was: Select...
Adam Company uses the weighted-average method in its process costing system. The following information for the...
Adam Company uses the weighted-average method in its process
costing system. The following information for the Assembly
Department was obtained from the accounting records for September
(all materials are added at the beginning of the
process):
Number of
Units
Labour and overhead
percentage complete
Work in process inventory, Sept.
1
60,000
15%
Transferred in the during the
month
105,000
Work in process inventory, Sept.
30
40,000
20%
Transferred
In
Materials
Labour and
overhead
Beginning work-in-process
inventory
$30,000
$16,000
Cost added...
Burnt Ham Company uses the weighted-average method in its process costing system. The Curing Department of...
Burnt Ham Company uses the weighted-average method in its
process costing system. The Curing Department of Burnt Company
reported the following information for the month of November:
Beginning work in process: 30% complete for materials, and 80%
complete for conversion.
Ending work in process: 40% complete for materials, and 70%
complete for conversion.
Cost Summary
Materials
Conversion
Work in process, November 1
$ 34,500
$ 48,600
Added during November
$146,000
$194,400
Units
Work in process, November 1
10,000
Started in...
Burnt Ham Company uses the weighted-average method in its process costing system. The Curing Department of...
Burnt Ham Company uses the weighted-average method in its
process costing system. The Curing Department of Burnt Company
reported the following information for the month of November:
Beginning work in process: 30% complete for materials, and 80%
complete for conversion.
Ending work in process: 40% complete for materials, and 70%
complete for conversion.
Cost Summary
Materials
Conversion
Work in process, November 1
$ 34,500
$ 48,600
Added during November
$146,000
$194,400
Units
Work in process, November 1
10,000
Started in...
Natraj Company uses the weighted-average method in its process costing system. The Curing Department of Harmon...
Natraj Company uses
the weighted-average method in its process costing system. The
Curing Department of Harmon Company reported the following
information for the month of November.
Units
Percentage Complete With
Respect to Conversion
Work in process, November 1
10,000
80%
Units started
28,000
Completed and transferred out
30,000
Work in process, November 30
8,000
30%
Cost of November:
Materials
Conversion
Work in process, November 1
$34,500
$48,600
Added during the month
$146,000
$194,400
All materials are
added at the beginning...
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only...
The Richmond Corporation uses the weighted-average method in its
process costing system. The company has only a single processing
department. The company's ending work in process inventory on
August 31 consisted of 21,400 units. The units in the ending work
in process inventory were 100% complete with respect to materials
and 60% complete with respect to labor and overhead. If the cost
per equivalent unit for August was $3.60 for materials and $5.10
for labor and overhead, the total cost...
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