Hielta oy a finnish company processes wood pulp for various, Ask an Expert

Accounting

Hielta Oy, a Finnish company, processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below:

Percent Completed
Tons of
Pulp
Materials
Labor and overhead
Work in process, June 1 21,400 82% 88%
Work in process, June 30 28,900 61% 47%
Started into production during June 190,800

Assume that the company uses the FIFO method in its process costing system.

Requirement 1:
Compute the number of tons of pulp completed and transferred out during June.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962769

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