Gulf Fisheries, Inc., processes tuna for various distributors. Two departments are involved Cleaning and Packing. Data relating to pounds of tuna processed in the Cleaning Department during May are given below:

A total of 480,000 pounds of tuna were started into processing during May. All materials are added at the beginning of processing in the Cleaning Department.

Required:
Compute the equivalent units for May for both materials and labor and overhead assuming that the company uses the weighted-average method of accounting forunits.

Transcribed Image Text:

Percent Completed Pounds of Tuna Materials Overhead 30,000 100% 20,000 100% Labor and Work in process, May 1 Work in process, May 31 55% 90% Labor and overhead only.