Gulf Fisheries, Inc. processes tuna for various distributors. Two departments ar

Question

Gulf Fisheries, Inc. processes tuna for various distributors. Two departments are involved--- Cleaning and Packing. Data relating to kilograms of tuna processed in the Cleaning Department during May are given below.

Kilograms of Tuna

Percentage Completed

( Labour and Overhead only)

WIP May 1

15000

55%

WIP May 31

10000

90%

A total of 240,000 kilograms of tuna were started into processing during May. All materials are added at the beginning of processing in the Cleaning Department.

* Compute the equivalent units for May for the Cleaning Department, assuming that the company uses the weighted-average method of accounting for units.

Please explain how the answers were determined.

Kilograms of Tuna

Percentage Completed

( Labour and Overhead only)

WIP May 1

15000

55%

WIP May 31

10000

90%

Explanation / Answer

Equivalent Units: Weighted Average Input Particulars Output % com-Conversion EQU-Conversion      15,000 Opening WIP 240,000 Introdused Transferred out 245,000 100 245,000 Closing WIP      10,000 90         9,000 255,000 255,000 254,000

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