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 Labor and Overhead 81,500 Materials Work in process, June 1 Work in process, June 50,900 30 Started into production during June 301,900 Percent Completed 83% 46% 23% 18% 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.

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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:
Materials
Work in
process, June 1
Work in
process, June 50,900
30
Started into
production
during June
Tons of
Pulp
Labor and
Overhead
81,500
Required:
301,900
Percent
Completed
83%
46%
23%
18%
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.
Transcribed Image Text: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: Materials Work in process, June 1 Work in process, June 50,900 30 Started into production during June Tons of Pulp Labor and Overhead 81,500 Required: 301,900 Percent Completed 83% 46% 23% 18% 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.
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