Question

Exercise 5-6 Equivalent Units of Production-Weighted-Average Method [LO5-2] 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: points Percent Completed Labor and Materials Overhead 86% 21% 46% 13% eBook Tons of Pulp 81,100 51,800 300,000 Work in process, June 1 Work in process, June 30 Started into production during June Print Required: 1. Compute the number of tons of pulp completed and transferred out during June. 2. Compute the equivalent units of production for materials and for labor and overhead for June. References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of tons of pulp completed and transferred out during June. Tons completed and transferred out < Required 1 Required 2 >

Answer 1

Highlands Company Requirement 1 Work in process, June 1 Started into production during the month. Total tons in process Deduct work in process, June 30 Completed and transferred out during the month Tons of Pulp 81100 300000 381100 -51800 329300 Requirement 2 Equivalent Units of Production Materials Labor and Overhead 329300 329300 Units transferred out Equivalent units in ending work in process inventory: Materials: 51,800 tons x 46% complete Labor and overhead: 51,800 tons x 13% complete Equivalent units of production 23828 6734 336034 353128