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Prepare quantity schedules and a computation of equivalent

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Reference no: EM132556503

Kitty Inc. processes fish for various cat food distributors. Two departments are involved Department 1 and Department 2. Data relating to kilograms of Cat Food processed in Department 1 during July are presented below:

                                                            Kg. of Cat Food              Percentage Completed

WIP, May 1st                                      20,000                                  30%

Started into process during May            380,000                                   -

WIP, May 31st                                    25,000                                   60%

All materials are added at the beginning of processing in Department 1. Labour and overhead (conversion) costs are incurred uniformly throughout processing.

Required:

Question 1: Prepare quantity schedules and a computation of equivalent units for July for Department 1 according to the weighted average cost method of accounting for units.

Reference no: EM132556503

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