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 Salmon 37,000 465,089 42,000 Percentage Completed 4ex Work in process, July 1 Started into processing during July Work in process, July 31 *Labour and overhead only. 70% 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 1 according to the weighted average cost method of accounting for units. Quantity Schedule Pounds to be accounted for Work in process, July 1 Started into production during July Total pounds 37.000 465.000 502,000 Equivalent Units (EU) Materials Conversion Units Pounds accounted for as follows: Transferred to department 2 during July Work in process, July 31 Total pounds and equivalent units of production