User Account

All Pages

The beginning work in process inventory was 80 complete

Assignment Help Accounting Basics
Reference no: EM13579464

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.)

Reference no: EM13579464

Questions Cloud

Determine the cost of ending work in process inventory and : builder products inc. manufactures a caulking compound that goes through three processing stages prior to completion.
The manufacturing overhead budget at latronica corporation : the manufacturing overhead budget at latronica corporation is based on budgeted direct labor-hours. the direct labor
There is a class of 50 people answering a question let x be : there is a class of 50 people answering a question each student has a 60 chance of getting the correct answer. let x
Find the 99 confidence interval for the variance and : q1.the weights of first graders at freemont elementary were recorded as follows. construct a frequency distribution
The beginning work in process inventory was 80 complete : pureform inc. manufactures a product that passes through two departments. data for a recent month for the first
You are a student preparing for a job interview with a : you are a student preparing for a job interview with a fortune 100 consumer products manufacturer. you are applying for
Compute collegepaks break-even point in sales dollars for : collegepak company produced and sold 60000 backpacks during the year just ended at an average price of 20 per unit.
When not cooking for cody and lucky don works part-time as : when not cooking for cody and lucky don works part-time as a logistics expert. don needs to optimize the shipment of
The accounts and balances that follow are from the general : the accounts and balances that follow are from the general ledger of dimaz company. compute the 1 working capital and 2

Reviews

Write a Review

Accounting Basics Questions & Answers

  Periodic inventory system and gross method

Which of the following is the correct entry to record the payment by Underwood Inc., within the 10 days if the company uses the periodic inventory system and the gross method to record purchases?

  Should navinow account for the contingent payments

Should NaviNow account for the contingent payments promised to the former owners of Traffic Eye as consideration transferred in the acquisition or as compensation expense to employees?

  On march 31 dower publishing discounted a 41000 note at a

on march 31 dower publishing discounted a 41000 note at a local bank. the note was dated february 28 and required the

  Finding the earnings per share

For 2010, Fielder Corporation reported net income of $30,000; net sales $400,000; and average shares outstanding of 6,000. There were no preferred stock dividends. What was the 2010 earnings per share?

  Dring may 1800 pounds of cheese were used to produce 3580

the standard price per pound is the price that benjis has paid for cheese for the last few months. benjis normally uses

  At franklis incorporated during the month of january the

at franklis incorporated during the month of january the direct labor rate variance was 2500 unfavorable and the direct

  While departmental supervisors have been happy with the

several years ago shipley corporation developed a comprehensive budgeting system for profit planning and control

  Zippy inc manufactures large crates of microwaveable

zippy inc. manufactures large crates of microwaveable popcorn that are typically sold to distributors. its main factory

  Complete the three-column comparative income

A new wholesaler has offered to buy 17,000 packages for $3.47 each. These markers would be marketed under the wholesaler's name and would not affect Cayman Products' sales through its normal channels.

  Result of converting from fifo to lifo

An entity changed from the FIFO to the LIFO cost flow assumption for inventories. Assuming that inventory and sales remain constant over time, and that prices are rising, how would the current ratio be changed as a result of converting from FIFO t..

  On january 1 2011 giggle company purchased 30 of the voting

on january 1 2011 giggle company purchased 30 of the voting common stock of home corp. for 1000000. any excess of cost

  Five characteristics-increase fraud possibility

Identify and explain 5 characteristics that may increase the possibility that financial statement fraud will occur in a company. Use examples to explain the company characteristics.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd