Question 1

Highlands Company uses the weightedaverage method in its process costing system. It processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below: Percent Cog! leted Labor and Tons of Pulp Materials Overhead l.tlor'k in process, June 1 31,188 85% 29% work in process, June 36 51,788 48% 18% Started into production during June 336,936 Required: 1_ Compute the number of tons of pulp completed and transferred out during June. 2. Compute the equivalent units of production for materials and for labor and overhead for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of tons of pulp completed and transfen'ed out during June. 330,300 Required 2 ) Required: 1. Compute the number of tons of pulp completed and transferred out during June. 2. Compute the equivalent units of production for materials and for labor and overhead for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the equivalent units of production for materials and for labor and overhead for June. Materials Labor and Overhead Equivalent units of production 355,116 339,606lChocolaterie de Geneve, SA, is located in a Frenchspeaking canton in Switzerland. The company makes chocolate truffles that are sold in popular embossed tins. The company has two processing departmentsCooking and Molding. In the Cooking Department, the raw ingredients for the trufes are mixed and then cooked in special candymaking vats. In the Molding Department, the melted chocolate and other ingredients from the Cooking Department are carefully poured into molds and decorative ourishes are applied by hand. After cooling, the trufes are packed for sale. The company uses a process costing system. The T-accounts below show the flow of costs through the two departments in April: Balance 411 13,666 Transferred out 761,666 Direct materials 32?,668 Direct labor 259,666 Overhead 191,668 Balance 4f1 1?,666 Transferred out 983,666 Transferred in 751,666 Direct labor 121,666 Overhead 92,666 Required: Prepare journal entries showing the flow of costs through the two processing departments during April. {If no entry is required for a transactiam'event, select \"Nojournal entry required" in the rst account field.) View transaction list View transaction list Journal entry worksheet Record issuance of raw materials. Note: Enter debits before credits. :Work' In processCooking 32? DEIU - _- 321m Journal entry worksheet N A 3 5 Record the direct labor incurred. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Work in process-Cooking 259,000 Work in process-Molding 121,000 Salaries and wages payable 380,000Journal entry worksheet A 2 3 5 Record entry to apply manufacturing overhead. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Work in process-Cooking 191,000 Work in process-Molding 92,000 Manufacturing overhead 283,000View transaction list Journal entry worksheet