Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for...

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Accounting

Highlands Company uses the weighted-average method in itsprocess costing system. It processes wood pulp for variousmanufacturers of paper products. Data relating to tons of pulpprocessed during June are provided below:
Percent Completed
Tons of Pulp Materials Labor and Overhead
Work in process, June 1 80,000 81 % 29 %
Work in process, June 30 51,100 41 % 16 %
Started into production during June 300,800
Required:
1. Compute the number of tons of pulp completed and transferredout during June.
2. Compute the equivalent units of production for materials andfor labor and overhead for June.

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3.9 Ratings (535 Votes)

Statement of equivalent units for the month of June Input tons Particulars Output tons Materials Labour and overheads Equivalent Unitstons Equivalent unitstons 380800 30080080000 Completed See Answer

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		Percent Completed
	Tons of Pulp	Materials		Labor and Overhead
Work in process, June 1	80,000	81	%	29	%
Work in process, June 30	51,100	41	%	16	%
Started into production during June	300,800