Gulf Fisheries, Inc. processes tuna for various distributors. Two departments ar
ID: 2461363 • Letter: G
Question
Gulf Fisheries, Inc. processes tuna for various distributors. Two departments are involved--- Cleaning and Packing. Data relating to kilograms of tuna processed in the Cleaning Department during May are given below.
Kilograms of Tuna
Percentage Completed
( Labour and Overhead only)
WIP May 1
15000
55%
WIP May 31
10000
90%
A total of 240,000 kilograms of tuna were started into processing during May. All materials are added at the beginning of processing in the Cleaning Department.
* Compute the equivalent units for May for the Cleaning Department, assuming that the company uses the weighted-average method of accounting for units.
Kilograms of Tuna
Percentage Completed
( Labour and Overhead only)
WIP May 1
15000
55%
WIP May 31
10000
90%
Explanation / Answer
Equivalent Units for May Opening WIP 15000 Units added 240000 Units processed 245000 Closing WIP 10000 % of completion on closing WIP 90% Equivalent units using weighted average method (245000+(10000*90%) 254000
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