? Pureform, Inc., manufactures a product that passes through two departments. Data for arecent month for the first department follow:UnitsMaterials LaborOverheadWork-in-process inventory, beginning 63,000$54,400$22,100 $26,900Units started in process599,000Units transferred-out620,000Work-in-process inventory, ending42,000Cost added during the month$802,980 $360,030 $420,035The beginning work in process inventory was 80% complete with respect to materials and65% complete with respect to labor and overhead. The ending work in process inventory was60% complete with respect to materials and 50% complete with respect to labor and overhead.Required:Assume that the company uses the FIFO method of accounting for units and costs.1. Compute the equivalent units for the month for the first processing department.2. Determine the costs per equivalent unit for the month.

Please see answer and solution below. 1. First identify the total units into production and…

Answered: Pureform, Inc., manufactures a product…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6PA: Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in...

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The finishing department started the month with 600 units in WIP inventory. Lt received 1,500 units from the molding department and ended the month with 550 units still in process. How many units were transferred out?
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