Highlands Company uses the weighted-average method in its process costing system

Question

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 Tons of Pulp Materials Overhead Work in process, June 1 Work in process, June 30 Started into production during June 80, 900 50, 200 301, 500 82 % 40% 30% 17% 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

Explanation / Answer

1 Tons completed and transferred out = 80900+301500-50200= 332200 2 Materials Labor Overhead Tons completed and transferred out 332200 332200 332200 Ending work in process 20080 8534 8534 Equivalent units of production 352280 340734 340734

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