The 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 27,000 40 Started into processing during July 415,000 Work in process, July 31 32,000 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 using the FIFO method The 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 27,000 40 Started into processing during July 415,000 Work in process, July 31 32,000 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 using the FIFO method The 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 27,000 40 Started into processing during July 415,000 Work in process, July 31 32,000 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 using the FIFO method Score answer

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The Alaskan Fisheries, Inc. processes salmon for various distributors. Two departments are involveddepartment 1 and department 2. Data relating to pounds of salmon processed in

The 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	27,000		40	%
Started into processing during July	415,000
Work in process, July 31	32,000		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 using the FIFO method.

	Pounds of Salmon	Percentage Completed*
Work in process, July 1	27,000		40	%
Started into processing during July	415,000
Work in process, July 31	32,000		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 using the FIFO method.

	Pounds of Salmon	Percentage Completed*
Work in process, July 1	27,000		40	%
Started into processing during July	415,000
Work in process, July 31	32,000		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 using the FIFO method.

Score answer