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: Percent Completed

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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:
Work in process, June 1
Work in process, June 30
Started into production during June
Required 1 Required 2
Tons of Pulp
81,100
Required 1 Required 2
50, 200
300, 300
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.
Percent Completed
Equivalent units of production
Materials
87%
41%
Materials
Compute the number of tons of pulp completed and transferred out during June.
Tons completed and transferred out
Labor and
Overhead
27%
17%
Compute the equivalent units of production for materials and for labor and overhead for June.
Labor and
Overhead
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: Work in process, June 1 Work in process, June 30 Started into production during June Required 1 Required 2 Tons of Pulp 81,100 Required 1 Required 2 50, 200 300, 300 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. Percent Completed Equivalent units of production Materials 87% 41% Materials Compute the number of tons of pulp completed and transferred out during June. Tons completed and transferred out Labor and Overhead 27% 17% Compute the equivalent units of production for materials and for labor and overhead for June. Labor and Overhead
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