Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pureform, Incorporated, uses the weighted - average method in its process costing system. It manufactures a product that passes through two departments. Data for a

Pureform, Incorporated, uses the weighted-average 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 66,000 $ 54,800 $ 22,400 $ 32,800
Units started in process 629,000
Units transferred out 650,000
Work in process inventory, ending 45,000
Cost added during the month $ 725,300 $ 276,175 $ 405,110
The beginning work in process inventory was 70% complete with respect to materials and 55% complete with respect to labor and overhead. The ending work in process inventory was 50% complete with respect to materials and 30% 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. Determine the first department's cost per equivalent unit for materials, labor, and overhead for the month. (Round your answers to 2 decimal places.)

Step by Step Solution

3.45 Rating (148 Votes )

There are 3 Steps involved in it

Step: 1

Answer 1 Equivalent Units of Production Materials Beginning WIP 66000 units x 70 46200 units Units s... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

16th edition

1259307417, 978-1260153132, 1260153134, 978-1259307416

More Books

Students also viewed these Accounting questions

Question

=+48. Oil prices, again. Return to the oil price data of Exercise

Answered: 1 week ago

Question

Using Gauss-Jordan elimination, invert this matrix ONLY 0 0 0 0 1

Answered: 1 week ago