Alaskan Fisheries, Inc., processes salmon for various distributors. Two departme

Question

Alaskan Fisheries, Inc., processes salmon for various distributors. Two departments are involved— 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 20,000 100% 30% Work in process inventory, July 31 25,000 100% 60% A total of 380,000 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 equivalent units for July for both materials and labor and overhead assuming that the company uses the weighted-average method of accounting for units. ReferenceseBook & Resources WorkshhetDifficulty: 1 EasyLearning

Explanation / Answer

Weighted-Average Method:

Materials Labor and Overhead Pounds transferred to the Packing Department during July 375,000 375,000 Work in process, July 31: Materials: 25,000 pounds × 100% complete 25,000 Labor and overhead: 25,000 pounds × 60% complete    15,000 Equivalent units of production 400,000 390,000

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