Refer to the data for Hielta Oy in Exercise 47. Assume that the company uses the FIFO
Question:
Refer to the data for Hielta Oy in Exercise 4—7. Assume that the company uses the FIFO method in its process costing system.
Hielta Oy, a Finnish company, processes wood pulp for various manufacturers of paper products.
Data relating to tons of pulp processed during June are provided below:
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.
Transcribed Image Text:
Percent Completed Tons of Labor and Materials Pulp Overhead Work in process, June 1...... Work in process, June 30.. Started into production during June . 20,000 30,000 90% 80% 40% 60% 190,000
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FIFO Method 1 Tons of Pulp Work in process June 1 20000 Started into pro...View the full answer
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Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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