Question

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Exercise 4-10 Equivalent Units of Production-Weighted-Average Method (L04-2] 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: Pounds of Salmon 27,000 19,000 Percent Completed Labor and Materials Overhead 100% 59% 100% 80% Work in process inventory, July 1 Work in process inventory, July 31 A total of 550,000 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. Materials Labor and Overhead Equivalent units of production

Answer 1

Solution:

						Materials	Labor and Overhead
Pounds transferred to the packing department during July						558,000	558,000*
Work in process, July 31
Materials 19,000 pounds x 100% complete						19,000
Labor and overhead 19,000 pounds x 80% complete							15,200
Equivalent units of production						577,000	573,200
*27,000+550,000-19,000