Answer Happy

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 20,000 25,000 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. Equivalent units of production Percent Completed Labor and Materials Overhead 100% 30% 100% 60% Answer is complete but not entirely correct. Labor and Overhead Materials 400,000 390,000 €