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 Labor and Overhead 24 % Work in process, June 1 Work in process, June 30 started into production during June Tons of Pulp 80,300 50, 300 301,500 Materials 89 % 50% 14 % 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 number of tons of pulp completed and transferred out during June. Tons completed and transferred out Required 1 Required 2 >

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 Labor and Overhead 24 % Work in process, June 1 Work in process, June 30 started into production during June Tons of Pulp 80,300 50, 300 301,500 Materials 89 % 50% 14 % 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 number of tons of pulp completed and transferred out during June. Tons completed and transferred out Required 1 Required 2 >

Name: Highlands Company uses the weighted-average method in its process cos
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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 andOve

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 Tons of Pulp 81,500 Materials 82% Labor and Overhead 25% 50,700 300,700 46% 16% 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 number of tons of pulp completed and transferred out during June.
Clonex Labs, Incorporated, uses the weighted - average method of process costing. The following data are available for one department for October: Units Percent Completed Materials Conversion Work in process, October 1 51, 000 95% 65% Work in process, October 31 38,000 66% 47% The department started 397,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October.
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The information below was obtained from the records of the first processing department of California Corporation for the month of July. The company uses the weighted-average method in its process costing system. units percent completed: Labor and overhead work in process inventory, July 1 20,000 40% started during the month 70,000 completed during the month 80,000 Work in process inventory, July 31 ? 25% All materials are added at the beginning of the manufacturing process. The equivalment units for labor and overhead for the month is: 70,000 90,000 80,000 82,500
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 $…
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Units 51,000 26,000 Percent Completed Conversion 60 46 Materials 90 Work in process, October 1 Work in process, October 31 711 The department started 388,000 units into production dering the month and transferred 413,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials Conversion Equivalent units of production
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
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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.
Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Work in process, October 1 Work in process, October 31 Units 49,000 29,000 Equivalent units of production Percent Completed Materials 85% 70% The department started 391,000 units into production during the month and transferred 411,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials Conversion 55% 49% Conversion