Please SHOW me how to do this problem. Thanks! Washington State Fisheries, Inc.,
ID: 2422286 • Letter: P
Question
Please SHOW me how to do this problem. Thanks!
Washington State Fisheries, Inc., processes salmon for various distributors. Two departments, processing and packaging, are involved. Data relating to tons of salmon sent to the processing department during May follow: Percent Completed Tons of Salmon Materials Conversion 1,140 70% Work-in-process inventory, May 1 80% Work-in-process inventory, May 31 2,960 50 30 Started processing during May 7,300 Required: 1. Calculate the number of tons completed and transferred out during the month Units completed and transferred out 2. Calculate the number of equivalent units for both materials and conversion for the month of May, assuming that the company uses the weighted-average method Equivalent Units Materials Conversion 3. How would your answer in part 2 change if the percentage of completion in ending inventory were as follows: materials 30%, conversion 40%? Equivalent Units Materials ConversionExplanation / Answer
a Number of tons completed an transferred out Particulars In Tons Opening Stock 1140 Add:Started Processing during may 7300 ( Added in May month after completion of Opening stock) Total Number of tons on which work is done in May 8440 Less:Number of Units incompleted 2960 Units Completed and transferred 5480 (opening stock + Introduced - Closing) b Calculation of Equivalent units of work in May month Opening Stock 1140 Materails Conversion Worked before May 80% 70% Worked in May 20% 30% In Units a 228 342 Introduced 4340 100% 100% b 4340 4340 Closing Stock 2960 50% 30% c 1480 888 Total (a+b+c) 6048 5570 c Calculation of Equivalent units of work in May month Opening Stock 1140 Materails Conversion Worked before May 80% 70% Worked in May 20% 30% In Units a 228 342 Introduced 4340 100% 100% b 4340 4340 Closing Stock 2960 30% 40% c 888 1184 Total (a+b+c) 5456 5866