Question 1

Vancouver Catch, Inc., processes salmon for various distributors and it uses the weighted average method in its process costing system. The company has two processing departments Cleaning and Shipping. In the Cleaning Department, direct materials are added at the beginning of process. Data relating to pounds of salmon processed in the Cleaning Department during July are presented below: Work in process inventory, July 1 (30%) 20,000 pounds Work in process inventory, July 31 (60%) 25,000 pounds Units started 380,000 pounds

Requirement: Using the weighted average method, prepare an equivalent units of production schedule.

Question 2

Healthwise Company uses the FIFO method in its process costing system. It produces clear plastic containers for laboratories in a process that starts in the Molding Department. Data concerning that departments operations in the most recent period appear below: Beginning work in process: Units in process 500 Completion with respect to materials 80% Completion with respect to conversion 40% Units started into production during the month 153,600 Units completed and transferred out 153,700 Ending work in process: Units in process 400 Completion with respect to materials 75% Completion with respect to conversion 20%

Requirement: Using the FIFO method, prepare an equivalent units of production schedule.

Question 3

A company uses a process costing system. Its Assembly Department started the month with 2,000 units in its beginning work in process inventory that were 70% complete. An additional 61,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 18,000 units in the ending work in process inventory of the Assembly Department that were 60% complete.

Requirement: How many units were transferred out of the Assembly Department?