Problem #1

The Western Fisheries Inc. processes tuna for various distributors. Two departments are involved, processing and packaging. Data relating to tons of tuna sent to the processing department during May 2019 are Percent completed Tons of tuna Materials Conversion Work in process inventory, May 1 1,500 80% 70% Work in process inventory, May 31 2,300 50% 30% Started processing during May 6,500Pumpkin Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. This is the company' s production quantity schedule for March: Percent Completed Tons of Pulp Materials Conversion Cost Work in process Inventory, Mar. 1 1,500 100% 30% Units started during March 5.000 Total units to account for M Units from beg. 1WIP, which were completed And transferred out during Mar. 1,500 Units started and completed during Mar. 4,000 Work in process inventory, Mar. 31 1.000 100% 60% Total units accounted for E And the following costs data were available: Work in process inventory, Mar. 1: Direct Materials P 20,750 Conversion 23,470 Cost incurred during March: Direct Materials P 80,000 Conversion 58,880