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: Work in process inventory, July 1 Work in process inventory, July 31 Pounds of Salmon 51,000 26,000 Equivalent units of production Materials Percent Completed Materials 100% 100% A total of 386,000 pounds of salmon were started into processing during July. All materials are added at the beginning of processing in the Cleaning Department. Labor and Overhead Labor and Required: Assume the company uses the FIFO method in its process costing system. Compute the Cleaning Department's equivalent units of production for materials and for labor and overhead for July. Overhead 60% 50%

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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:
Work in process inventory, July 1
Work in process inventory, July 31
Pounds of
Salmon
51,000
26,000
Equivalent units of production
Materials
Percent Completed
Materials
100%
100%
A total of 386,000 pounds of salmon were started into processing during July. All materials are added at
the beginning of processing in the Cleaning Department.
Labor and
Overhead
Labor and
Required:
Assume the company uses the FIFO method in its process costing system. Compute the Cleaning
Department's equivalent units of production for materials and for labor and overhead for July.
Overhead
60%
50%
Transcribed Image Text: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: Work in process inventory, July 1 Work in process inventory, July 31 Pounds of Salmon 51,000 26,000 Equivalent units of production Materials Percent Completed Materials 100% 100% A total of 386,000 pounds of salmon were started into processing during July. All materials are added at the beginning of processing in the Cleaning Department. Labor and Overhead Labor and Required: Assume the company uses the FIFO method in its process costing system. Compute the Cleaning Department's equivalent units of production for materials and for labor and overhead for July. Overhead 60% 50%
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