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Pureform, Incorporated, uses the FIFO method in its process costing system. It manufactures a product...

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Accounting

Pureform, Incorporated, uses the FIFO 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: Units Materials Labor Overhead Work in process inventory, beginning 97,000 $ 101,200 $ 54,300 $ 69,600 Units started in process 918,000 Units transferred out 940,000 Work in process inventory, ending 75,000 Cost added during the month $ 1,674,620 $ 850,465 $ 995,225 The beginning work in process inventory 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 50% complete with respect to labor and overhead

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