Refer to the data for Highlands Company in Exercise 4-6. Assume that the company uses the FIFO method in its process costing system.
Refer to the data in exercise 4-6,
Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below:

Required:
1. Compute the number of tons of pulp completed and transferred out during June.
2. Compute the equivalent units of production for materials and for labor and overhead for June?

Transcribed Image Text:

ted Tons of Pulp Materials Labor and Overhead 20,000 30,000 XYS 80% 40%