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 recent

image text in transcribed
image text in transcribed
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 Materiale Labor Overhead Work in process inventory, beginning 69,000 $ 82,500 $ 24,900 $ 35,800 Unit started in process 559.000 Units transferred out 680,000 Work in process inventory, anding 48.000 Cont added during the month $ 1.090,900 $ 307,260 1,680 The beginning work in process inventory was 85% complete with respect to materials and 70% complete with respect to labor and overhead. The ending work in process inventory was 65% complete with respect to materials and 25% 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 departments cost per equivalent unit for materials, labor and overhead for the month. (Round your answers to 2 decimal places.) Materials Labor Overhead 1. Equivalent units of production 2. Cost per equivalent 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 proceRe inventory, beginning 69,000 $ 82,500 $ 24,900 $ 35,00 Unit started in process 659.000 Units transferred out 680,000 Work in process inventory ending 48,000 Cont added during the month $ 1.090, 980 $ 307,260 5 441.680 The beginning work in process inventory was 85% complete with respect to materials and 70% complete with respect to labor and overhead. The ending work in process inventory was 65% complete with respect to materials and 25% 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.) Materials Labor Overhead 1. Equivalent units of production 2. Cost per equivalent unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Operational Guidelines For Postmortem Examinations And Auditing

Authors: O.P. Murty, O.P Murty

1st Edition

8123924437, 978-8123924434

More Books

Students also viewed these Accounting questions