Question
Hello I have a cost accounting question? Alaskan Fisheries, Inc. processes salmon for various distributors. Two departments are involveddepartment 1 and department 2. Data relating
Hello I have a cost accounting question?
Alaskan Fisheries, Inc. processes salmon for various distributors. Two departments are involveddepartment 1 and department 2. Data relating to pounds of salmon processed in department 1 during July are presented below: |
Pounds of Salmon | Percentage Completed* | ||||
Work in process, July 1 | 29,000 | 40 | % | ||
Started into processing during July | 425,000 | ||||
Work in process, July 31 | 34,000 | 70 | % | ||
*Labour and overhead only. | |||||
|
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 method of accounting for units. |
Pounds to be accounted for: Quanity schedule
1
2
Total Pounds
Pounds accounted for as follows: Units materials conversion (equivalent units)
1
2
total pounds and equivalent units of production
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