Alaskan Fisheries, Inc., processes salmon for various distributors. Two departme

Question

Alaskan Fisheries, Inc., processes salmon for various distributors. Two departments are involved— Cleaning and Packing. Data relating to pounds of salmon processed in the Cleaning Department during July are presented below: Percent Completed Pounds of Salmon Materials Labor and Overhead Work in process inventory, July 1 29,000 100% 55% Work in process inventory, July 31 22,000 100% 80% A total of 450,000 pounds of salmon were started into processing during July. All materials are added at the beginning of processing in the Cleaning Department. Required: Compute the equivalent units for July for both materials and labor and overhead assuming that the company uses the weighted-average method of accounting for units. I need equivalent units of production for materials and labor and overhead.

Explanation / Answer

Answer:

* 29000+450000-22000=457000

Weighted -Average Method: Particulars Material Labor and Overhead Pounds transferred to the packing Department during july 457000 457000 Work in process, july 31: Material: 22000 pounds*100% complete 22000 Labor and overhead: 22000 pounds* 80% complete 17600 Equivalent units of production 479000 474600

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