Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that...
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Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month 1. Equivalent units of production 2. Cost per equivalent unit Units 68,000 649,000 Materials 670,000 47,000 34 昌宁 The beginning work in process Inventory was 80% complete with respect to materials and 65% complete with respect to labor and overhead. The ending work in process inventory was 60% complete with respect to materials and 10% complete with respect to labor and overhead. Materials Labor $ 68,700 $ 22,800 Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Compute the first department's cost per equivalent unit for materials, labor, overhead, and in total for the month. (Round your answers to 2 decimal places.) Labor < Prev $804,750 $ 239,590 Overhead 14 of 17 Ps WPX Overhead $ 32,900 MacBook Pro $409,825 Total Next > Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month 1. Equivalent units of production 2. Cost per equivalent unit Units 68,000 649,000 Materials 670,000 47,000 34 昌宁 The beginning work in process Inventory was 80% complete with respect to materials and 65% complete with respect to labor and overhead. The ending work in process inventory was 60% complete with respect to materials and 10% complete with respect to labor and overhead. Materials Labor $ 68,700 $ 22,800 Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Compute the first department's cost per equivalent unit for materials, labor, overhead, and in total for the month. (Round your answers to 2 decimal places.) Labor < Prev $804,750 $ 239,590 Overhead 14 of 17 Ps WPX Overhead $ 32,900 MacBook Pro $409,825 Total Next >
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UNITS TO ACCOUNT FOR Beginning Work in Process units 68000 Add Units Started in Process 649000 To... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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