Exercise 5S 7 (Algo) Equivalent Units of Production and Cost per Equivalent Unit FIFO Method LO 5S 6, LO 5S 7 Pureform, Incorporated, 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 Units Materials Labor Overhead Work in process inventory, beginning 86,000 $ 70,200 $ 39,600 $ 53,000 Units started in process 814,000 Units transferred out 820,000 Work in process inventory, ending 80,000 Cost added during the month $ 1,798,200 $ 398,050 $ 437,855 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 40 complete with respect to labor and overhead 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 )

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Exercise 5S-7 (Algo) Equivalent Units of Production and Cost per Equivalent Unit-FIFO Method [LO 5S-6, LO 5S-7] Pureform, Incorporated, uses the FIFO method in its

Exercise 5S-7 (Algo) Equivalent Units of Production and Cost per Equivalent Unit-FIFO Method [LO 5S-6, LO 5S-7]

Pureform, Incorporated, 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:

	Units	Materials	Labor	Overhead
Work in process inventory, beginning	86,000	$ 70,200	$ 39,600	$ 53,000
Units started in process	814,000
Units transferred out	820,000
Work in process inventory, ending	80,000
Cost added during the month		$ 1,798,200	$ 398,050	$ 437,855

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 40% complete with respect to labor and overhead.

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.)