Alaskan Fisheries, Incorporated, processes salmon for various distributors and it uses the FIFO method in its process co

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Alaskan Fisheries Incorporated Processes Salmon For Various Distributors And It Uses The Fifo Method In Its Process Co 1 (27.83 KiB) Viewed 8 times

Alaskan Fisheries, Incorporated, processes salmon for various distributors and it uses the FIFO method in its process costing system. The company has two processing departments-Cleaning and Packing. Data relating to pounds of salmon processed in the Cleaning Department during July are presented below: Work in process inventory, July 1 Work in process inventory, July 31 Pounds of Salmon Equivalent units of production 20,000 25,000 Percent Completed Labor and Materials Materials 100% 100% A total of 380,000 pounds of salmon were started into processing during July. All materials are added at the beginning of processing in the Cleaning Department Required: Compute the Cleaning Department's equivalent units of production for materials and for labor and overhead for July Overhead 30% 60% Labor and Overhead