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Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp...

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Accounting

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:
Tons of Pulp Percent Completed
Materials Labor and Overhead
Work in process, June 181,30085%21%
Work in process, June 3051,50050%14%
Started into production during June 300,200
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.

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