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Alaskan Fisheries, Inc. processes salmon for various distributors. Two departments are involved department 1 and department 2. Data relating to pounds of salmon processed in
Alaskan Fisheries, Inc. processes salmon for various distributors. Two departments are involved department 1 and department 2. Data relating to pounds of salmon processed in department 1 during July are presented below: Pounds of Salon 20,000 300,000 35,000 Percentage Completel 30% Work in process, July 1 Started into processing during July Work in process, July 31 Labour and overhead only GOX All materials are added at the beginning of processing in department 1. Labour and overhead (conversion) costs are incurred uniformly throughout processing. Required: Prepare quantity schedules and a computation of equivalent units for July for department using the FIFO method. Quantity Schedule Pounds to be accounted for Total pounds Equivalent Units (EU) Materials Conversion Units Pounds accounted for as follows: Total pounds and equivalent units of production 0 0
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