Washington State Fisheries, Incorporated, processes salmon for various distributors. Two departments, processing and packaging, are involved. Data relating to tons of salmon sent to the processing department during May follow: Tons of salmonDirect materialsConversionWIP inventory beginning2,24080%70%Started during month2,38050%30%WIP inventory ending9,250 Calculate the number of equivalent units for both direct materials and conversion for the month of May, assuming that the company uses the weighted-average method.How would your answer change if the percentage of completion in ending inventory were as follows: direct materials 30%, conversion 40%?

Equivalent units of production are an indication to show the work in process inventory at the end of…

Answered: Washington State Fisheries,…

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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Washington State Fisheries, Incorporated, processes salmon for various distributors. Two departments, processing and packaging, are involved. Data relating to tons of salmon sent to the processing department during May follow:

	Tons of salmon	Direct materials	Conversion
WIP inventory beginning	2,240	80%	70%
Started during month	2,380	50%	30%
WIP inventory ending	9,250

Calculate the number of equivalent units for both direct materials and conversion for the month of May, assuming that the company uses the weighted-average method.

How would your answer change if the percentage of completion in ending inventory were as follows: direct materials 30%, conversion 40%?

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