Help Save &Exit Submit Lesson 3 Homework Check my work Pureform, Inc, uses the w
ID: 2339790 • Letter: H
Question
Help Save &Exit Submit Lesson 3 Homework Check my work Pureform, Inc, uses the weighted-average method in its process co departments. Data for a recent month for the first department follow sting system. It t passes through two Work in process inventory Units started in process Unita transferred ouft Work in procens inventory, ending Cost added during the month 69,000 82,500 24,900 35,800 659,000 680,000 48,000 points $1,044,080 160,925 482,775 The beginning work in process inventory was 85% complete with respect to materials and 70% complete with respect to labor and overhead. The ending work in process inventory was 65% complete with respect to materials and 25% complete with respect to labor and overhead. References Required: Assume that the company uses the FIFO method in its process costing system. 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. (Round your answers to 2 decimal places.) 2. Cost per equivalont unit MacBooExplanation / Answer
Answer
Units Reconciliation
Units to account for:
Beginning WIP
69,000
Units started this period
659,000
Total Units to account for
728,000
Total Units accounted for:
Completed & Transferred out
680,000
Ending WIP
48,000
Total Units accounted for
728,000
EUP - FIFO Method
Units
% Material
EUP Materials
% Labor
EUP - Labor
% Overhead
EUP -Overhead
Units of ENDING WIP
48,000
65%
31,200
25%
12,000
25%
12,000
Units STARTED & COMPLETED
611,000
100%
611,000
100%
611,000
100%
611,000
Units of beginning WIP
69,000
15%
10,350
30%
20,700
30%
20,700
Equivalent Units of Production
652,550 [ANSWER]
643,700 [ANSWER]
643,700 [ANSWER]
COST per EUP
Material
Labor
Overhead
TOTAL
Cost incurred this period
$ 1,044,080.00
$ 160,925.00
$ 482,775.00
Total Costs
$ 1,044,080.00
$ 160,925.00
$ 482,775.00
Equivalent units of production
652,550
643,700
643,700
Cost per EUP
$ 1.60 [ANSWER]
$ 0.25 [ANSWER]
$ 0.75 [ANSWER]
$ 2.60 [ANSWER]
Units Reconciliation
Units to account for:
Beginning WIP
69,000
Units started this period
659,000
Total Units to account for
728,000
Total Units accounted for:
Completed & Transferred out
680,000
Ending WIP
48,000
Total Units accounted for
728,000
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