Pureform, Incorporated, uses the FIFO method of process costing. It manufactures a product passing through two departments. Data for a recent month for the first department follow: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month 1. Equivalent units of production 2. Cost per equivalent unit Units 73,000 689,000 710,000 52,000 Materials Materials $ 57,100 $ 475,440 The beginning work in process inventory was 75% complete for materials and 60% complete for labor and overhead. The ending work in process inventory was 55% complete for materials and 25% complete for 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. Note: Round your answers to 2 decimal places. Labor $ 1,230,930 Overhead Labor $ 27,700 $441,480 Total Overhead $ 39,000

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Pureform, Incorporated, uses the FIFO method of process costing. It manufactures a product passing through two departments. Data
for a recent month for the first department follow:
Work in process inventory, beginning
Units started in process
Units transferred out
Work in process inventory, ending
Cost added during the month
1. Equivalent units of production
2. Cost per equivalent unit
Units
73,000
689,000
710,000
52,000
Materials
Materials
$ 57,100
$441,480
$ 475,440
The beginning work in process inventory was 75% complete for materials and 60% complete for labor and overhead. The ending work
in process inventory was 55% complete for materials and 25% complete for 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.
Note: Round your answers to 2 decimal places.
Labor
$ 1,230,930
Overhead
Labor
$ 27,700
Total
Overhead
$ 39,000
Transcribed Image Text:Pureform, Incorporated, uses the FIFO method of process costing. It manufactures a product passing through two departments. Data for a recent month for the first department follow: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month 1. Equivalent units of production 2. Cost per equivalent unit Units 73,000 689,000 710,000 52,000 Materials Materials $ 57,100 $441,480 $ 475,440 The beginning work in process inventory was 75% complete for materials and 60% complete for labor and overhead. The ending work in process inventory was 55% complete for materials and 25% complete for 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. Note: Round your answers to 2 decimal places. Labor $ 1,230,930 Overhead Labor $ 27,700 Total Overhead $ 39,000
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