Beginning work in process includes 400 units that are 20% complete with respectto conversion and 30% complete with respect to materials. Ending work in process includes 200 units that are 40% complete with respect to conversion and 50%complete with respect to materials. If 2,000 units were started during the period,what are the equivalent units of production for the period according to the weightedaverage method?a. Conversion equivalent units 2,280 units; Material equivalent units 2,100 unitsb. Conversion equivalent units 1,980 units; Material equivalent units 2,080 unitsc. Conversion equivalent units 2,480 units; Material equivalent units 1,980 unitsd. Conversion equivalent units 2,280 units; Material equivalent units 2,300 units
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
Beginning work in process includes 400 units that are 20% complete with respect
to conversion and 30% complete with respect to materials. Ending work in process includes 200 units that are 40% complete with respect to conversion and 50%
complete with respect to materials. If 2,000 units were started during the period,
what are the equivalent units of production for the period according to the weightedaverage method?
a. Conversion equivalent units 2,280 units; Material equivalent units 2,100 units
b. Conversion equivalent units 1,980 units; Material equivalent units 2,080 units
c. Conversion equivalent units 2,480 units; Material equivalent units 1,980 units
d. Conversion equivalent units 2,280 units; Material equivalent units 2,300 units
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