Pureform, Inc. manufactures a product that passes through two departments. Data for a recent month for the first department follow:

The beginning work-in-process inventory was 80% complete as to materials and 60% complete as to processing labour and overhead. The ending work-in-process inventory was 75% complete as to materials and 50% complete as to processing labour and overhead. The company combines labour and overhead to form the conversion cost category.

Required:

1. Assume that the company uses the weighted average cost method of accounting for units and costs. Prepare a quantity schedule and a computation of equivalent units for the month. Use the format of Exhibit 4?9.

2. Determine the costs per equivalent unit for the month.

3. Repeat Requirements (1) and (2) using the FIFO method. Do not prepare a new quantity schedule.

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Materials Units Labour Overhead $ 4,500 Work in process, beginning Units started in process Units transferred out Work in process, ending Cost added during the month 5,000 $ 1,250 $ 1,875 45,000 42,000 8,000 52,800 21,500 32,250