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Compute the equivalent units of production for materials

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Question - Hielta Oy, a Finnish company, processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below:

Percent Completed

Tons of
Pulp

Materials

Labor and overhead

Work in process, June 1

21,400

82%

88%

Work in process, June 30

28,900

61%

47%

Started into production during June

190,800

Assume that the company uses the FIFO method in its process costing system.

Requirement 1: Compute the number of tons of pulp completed and transferred out during June.

Requirement 2: Compute the equivalent units of production for materials and for labor and overhead for June.

Reference no: EM131809855

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