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5:5 Alaskan Fisheries, Inc., processes salmon for various distributors and it uses the weighted average method in its process costing system. The company has two
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Alaskan Fisheries, Inc., processes salmon for various distributors and it uses the weighted average method in its process costing system. The company has two processing departments-Cleaning and Packing. Data relating to pounds of salmon processed in the Cleaning Department during July are presented below: Percent completed Pounds of Labor and Salmon Materials Overhead Work in process inventory, July 1 34,000 1008 525 Work in process inventory, July 31 18,000 100 703 A total of 500,000 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 Cleaning Department's equivalent units of production for materials and for labor and overhead in the month of July Materials Labor and Overhead Equivalent units of production Step by Step Solution
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