Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below: Tons of Pulp 8৪,300 50, 300 301,500 Percent Completed Labor and Overhead 24 % 14 % Work in process, June 1 Work in process, June 30 Started into production during June Materials 89% 50 % Required: 1. Compute the number of tons of pulp completed and transferred out during June. 2. Compute the equivalent units of production for materials and for labor and overhead for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the equivalent units of production for materials and for labor and overhead for June. Labor and Overhead Materials Equivalent units of production < Required 1 Regulred2

Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below: Tons of Pulp 8৪,300 50, 300 301,500 Percent Completed Labor and Overhead 24 % 14 % Work in process, June 1 Work in process, June 30 Started into production during June Materials 89% 50 % Required: 1. Compute the number of tons of pulp completed and transferred out during June. 2. Compute the equivalent units of production for materials and for labor and overhead for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the equivalent units of production for materials and for labor and overhead for June. Labor and Overhead Materials Equivalent units of production < Required 1 Regulred2

Name: Highlands Company uses the weighted-average method in its process cos
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for variousmanufacturers of paper products. Data relating to tons of pulp processed during June are provided below:Percent CompletedLabor andTon

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

•) Mccabe Corporation uses the weighted average Method in it's process Costing. The following data pertain to its Assembly Department for September. Work in process, September Units Started into production doring September Units Completed during September and transferred to the next department Work in process, September 30 Percentage Complete Units Material Conversion 800 55% 10.1. 8,200 7,300 1,700 25% 25.1. Compute the equivalent units of production for both materials and Conversion Cost for the Assembly Department for September Using the weighted average method.
1
Hutchcroft Corporation uses the weighted-average method in its process costing. The following data concern the company’s Assembly Department for the month of June. Materials Conversion Cost per equivalent unit $ 25.30 $ 28.10 Equivalent units in ending work in process 730 275 During the month, 6,400 units were completed and transferred from the Assembly Department to the next department. Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method.
Pureform, Incorporated, uses the weighted-average method of process costing. It manufactures a product passing through two departments. Data for a recent month for the first department follow: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 66,000 629,000 650,000 45,000 1. Equivalent units of production 2. Cost per equivalent unit Materials $ 54,800 Materials $ 725,300 $ 276,175 The beginning work in process inventory was 70% complete for materials and 55% complete for labor and overhead. The ending work in process inventory was 50% complete for materials and 30% complete for labor and overhead. Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Determine the first department's cost per equivalent unit for materials, labor, and overhead for the month. Note: Round your answers to 2 decimal places. Labor $…
Alpesh
Please help me
Pureform, Incorporated, uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 57,000 539,000 560,000 36,000 1. Equivalent units of production 2. Cost per equivalent unit Materials $ 238,370 $ 344,290 The beginning work in process inventory was 75% complete with respect to materials and 60% complete with respect to labor and overhead. The ending work in process inventory was 55% complete with respect to materials and 35% complete with respect to labor and overhead. Materials $ 51,000 Labor Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Determine the first department's cost per equivalent unit for materials, labor, and overhead for…
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory Units started in production Units finished during the period Units in process at the end of the period (complete as to materials, % complete as to labor and overhead) Cost of materials used Labor and overhead costs Total cost of the 16,400 units finished is: -0- 20,800 16,400 4,400 $39,780 $42,000
Hutchcroft Corporation uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of June. Materials $ 29.30 1,130 Conversion $ 32.10 475 Cost per equivalent unit Equivalent units in ending work in process During the month, 7,200 units were completed and transferred from the Assembly Department to the next department. Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method. (Round your answers to 2 decimal places.) Materials Conversion $ 33,109.00 $ 15,248.00 $ 210,960.00 $ 231,120.00 Cost of ending work in process inventory Cost of units completed and transferred out
Compute for the total cost accounted for using FIFO.
Dhapa
Highlands Company uses the weighted-average method of process costing. It processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below: Work in process, June 1. Work in process, June 30 Started into production during June Required: Percent Completed Labor and Tons of Pulp Materials 80,400 82% 50,300 49% 301,200 Overhead 28% 17% 1. Compute the number of tons of pulp completed and transferred out during June. 2. Compute the equivalent units of production for materials and for labor and overhead for June.