Pureform, Incorporated, uses the weighted-average 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 units of production 1. Equ 2. Cost per equivalent unit Units 66,000 629,000 650,000 45,000 Materials Materials. $ 54,800 $ 725,300 Labor $ 22,400 The beginning work in process inventory was 70% complete for materials and 55% complete for labor and overhead. The ending work in process inventory was 50% complete for materials and 30% 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. Determine the first department's cost per equivalent unit for materials, labor, and overhead for the month. Note: Round your answers to 2 decimal places. Labor $ 276,175 Overhead $ 32,800 Overhead $ 405,110

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Pureform, Incorporated, uses the weighted-average 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
Units
66,000
629,000
650,000
45,000
1. Equivalent units of production
2. Cost per equivalent unit
Materials
$ 54,800
Materials
$ 725,300
$ 276,175
The beginning work in process inventory was 70% complete for materials and 55% complete for labor and overhead. The ending work
in process inventory was 50% complete for materials and 30% 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. Determine the first department's cost per equivalent unit for materials, labor, and overhead for the month.
Note: Round your answers to 2 decimal places.
Labor
$ 22,400
Labor
Overhead
$ 32,800
Overhead
$ 405,110
Transcribed Image Text:Pureform, Incorporated, uses the weighted-average 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 Units 66,000 629,000 650,000 45,000 1. Equivalent units of production 2. Cost per equivalent unit Materials $ 54,800 Materials $ 725,300 $ 276,175 The beginning work in process inventory was 70% complete for materials and 55% complete for labor and overhead. The ending work in process inventory was 50% complete for materials and 30% 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. Determine the first department's cost per equivalent unit for materials, labor, and overhead for the month. Note: Round your answers to 2 decimal places. Labor $ 22,400 Labor Overhead $ 32,800 Overhead $ 405,110
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