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mauverat447Lv1
28 Sep 2019
Please explain!
Pureform, Inc., manufactures a product that passes through twodepartments. Data for a recent month for the first departmentfollow:
Units Materials Labor Overhead Work inprocess inventory, beginning 63,000 $ 54,400 $ 22,100 $ 26,900 Units started inprocess 599,000 Units transferredout 620,000 Work in processinventory, ending 42,000 Cost added duringthe month $ 802,980 $ 360,030 $ 420,035
The beginning work in process inventory was 80% complete withrespect to materials and 65% complete with respect to labor andoverhead. The ending work in process inventory was 60% completewith respect to materials and 50% complete with respect to laborand overhead.
Required: Assume that the company uses theFIFO method of accounting for units and costs.
1. Compute the equivalent units for the month for the firstprocessing department.
Materials
Labor
Overhead
2. Determine the costs per equivalent unit for the month.(Round your answers to 2 decimal places.)
Materials
Labor
Overhead
Please explain!
Pureform, Inc., manufactures a product that passes through twodepartments. Data for a recent month for the first departmentfollow: |
Units | Materials | Labor | Overhead | ||||
Work inprocess inventory, beginning | 63,000 | $ | 54,400 | $ | 22,100 | $ | 26,900 |
Units started inprocess | 599,000 | ||||||
Units transferredout | 620,000 | ||||||
Work in processinventory, ending | 42,000 | ||||||
Cost added duringthe month | $ | 802,980 | $ | 360,030 | $ | 420,035 | |
The beginning work in process inventory was 80% complete withrespect to materials and 65% complete with respect to labor andoverhead. The ending work in process inventory was 60% completewith respect to materials and 50% complete with respect to laborand overhead. |
Required: |
Assume that the company uses theFIFO method of accounting for units and costs. |
1. | Compute the equivalent units for the month for the firstprocessing department. Materials Labor Overhead |
2. | Determine the costs per equivalent unit for the month.(Round your answers to 2 decimal places.) Materials Labor Overhead |
Reid WolffLv2
28 Sep 2019