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: Percent Completed Pounds of Labor and Salmon Materials Overhead Work in process inventory, July 1 Work in process inventory, July 31 20,000 25,000 100% 30% 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 Cleaning Department's equivalent units of production for materials and for labor and overhead in the month of July. Labor and Materials Overhead Equivalent units of production

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Alaskan Fisheries, Inc., processes salmon for various distributors and 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 | Percent Completed |
|----------------------------|------------------|-------------------|
|                            |                  | 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 Cleaning Department's equivalent units of production for materials and for labor and overhead in the month of July.

Below is an empty table where you will compute the equivalent units of production:

|                            | Materials | Labor and Overhead |
|----------------------------|-----------|--------------------|
| Equivalent units of production |           |                    |
Transcribed Image Text:Alaskan Fisheries, Inc., processes salmon for various distributors and 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 | Percent Completed | |----------------------------|------------------|-------------------| | | | 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 Cleaning Department's equivalent units of production for materials and for labor and overhead in the month of July. Below is an empty table where you will compute the equivalent units of production: | | Materials | Labor and Overhead | |----------------------------|-----------|--------------------| | Equivalent units of production | | |
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