Exercise 4-9 (Algo) Equivalent Units and Cost per Equivalent Unit-Weighted-Average Method [LO4-2, LO4-3] Pureform, Incorporated, uses the weighted average method in its process costing system. It manufactures a product that passes 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 76,000 719,000 740,000 55,000 1. Equivalent units of production 2 Cost per equivalent unit Materials Materials $ 68,400 $ 904,725 $ 372,370 $ 517,225 The beginning work in process ipventory was 90% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 70% complete with respect to materials and 10% complete with respect to 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. (Round your answers to 2 decimal places.) Labor Labor $ 30,200 Overhead $ 41,900 Overhead

Exercise 4-9 (Algo) Equivalent Units and Cost per Equivalent Unit-Weighted-Average Method [LO4-2, LO4-3] Pureform, Incorporated, uses the weighted average method in its process costing system. It manufactures a product that passes 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 76,000 719,000 740,000 55,000 1. Equivalent units of production 2 Cost per equivalent unit Materials Materials $ 68,400 $ 904,725 $ 372,370 $ 517,225 The beginning work in process ipventory was 90% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 70% complete with respect to materials and 10% complete with respect to 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. (Round your answers to 2 decimal places.) Labor Labor $ 30,200 Overhead $ 41,900 Overhead

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Description: Please do not give solution in image format thanku DesExercise 4-9 (Algo) Equivalent Units and Cost per Equivalent Unit-Weighted-Average Method [LO4-2,LO4-3]Pureform, incorporated, uses the weighted average method in its process costing system. It ma

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...

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Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the purchase of materials, the completion of goods, and the sale of goods. Prepare journal entries to account for the following: a. Purchased raw materials, on account, 70,000. b. Requisitioned raw materials to production, 70,000. c. Distributed direct labor costs, 15,000. d. Factory overhead costs incurred, 45,000. (Use Various Credits for the account in the credit part of the entry.) e. Completed all of the production started. f. Sold the completed production for 195,000, on account. (Hint: Use a single account for raw materials and work in process.)
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