Pureform, Incorporated, uses the FIFO method in its process costing system. It manufactures a product that passes through twodepartments Data for a recent month for the first department follow:Hork in process inventory, beginningUnits started in processUnits transferred outWork in process inventory, endingCost added during the month1 Equivalent units of production2. Cost per equivalent unitUnits76,000719,000740,00055,000$1,029,645$ 309,825The beginning work in process inventory was 90% complete with respect to materials and 75% complete with respect to labor andoverhead. The ending work in process inventory was 70% complete with respect to materials and 10% complete with respect to laborand overheadMaterials710,100Materials$ 68,400Answer is complete but not entirely correct.Overhead688,500$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. (Round youranswers to 2 decimal places.)Labor688,5001.55S 0.49 $112 SLabor$ 30,200TotalOverhead$ 41,9003.16$ 344,250

Name: Pureform, Incorporated, uses the FIFO method in its process costing s
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Pureform, Incorporated, uses the FIFO method in its process costing system. It manufactures a product that passes through twodepartments Data for a recent month for the first department follow:Hork in process inventory, beginningUnits started in pro