Gulf Fisheries, Inc., processes tuna for various distributors. Two departments a

Question

Gulf Fisheries, Inc., processes tuna for various distributors. Two departments are involved—Cleaning and Packing. Data relating to pounds of tuna processed in the Cleaning Department during May are given below:


Percent Completed

Pounds
of Tuna Materials Labor and
Overhead
Work in process, May 1 30,000 100% 59%
Work in process, May 31 20,000 100% 80%

--------------------------------------------------------------------------------


A total of 490,000 pounds of tuna were started into processing during May. All materials are added at the beginning of processing in the Cleaning Department.


Required:
Compute the equivalent units for May for both materials and labor and overhead assuming that the company uses the weighted-average method of accounting for units.

Explanation / Answer

Materials Units % Beginning                  30,000 100% Started               490,000 To be accounted for               520,000 Completed (squeeze figure)               500,000           500,000 Ending                  20,000 100%              20,000 Units as accounted               520,000 EQUIVALENT UNITS-MATERIALS           520,000 Labor and Overhead Units % Beginning                  30,000 59% Started               490,000 To be accounted for               520,000 Completed               500,000           500,000 Ending                  20,000 80%              16,000 Units as accounted               520,000 EQUIVALENT UNITS-LAB&OVHD           516,000

Related Questions

Navigate

• Browse (All)
• Browse G
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.