Pureform inc manufactures a product that passes through two, Ask an Expert

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Pureform, Inc., manufactures a product that passes through two departments. Data for a recent month for the first department follow:

	Units	Materials		Labor		Overhead
Work in process inventory, beginning	79,000	$	99,000	$	34,200	$	46,700
Units started in process	749,000
Units transferred out	770,000
Work in process inventory, ending	58,000
Cost added during the month		$	1,297,800	$	523,355	$	598,120

The beginning work in process inventory was 80% complete with respect to materials and 65% complete with respect to labor and overhead. The ending work in process inventory was 60% 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. (Round your answers to 2 decimal places.)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9957041

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