Current Attempt in Progress On September 1, Carla Vista Company had 32.250 units in process, which were 30% completed. Materials are added at the beginning of the process. During the month, 161,400 units were started and 171,450 completed and transferred out. Ending work in process inventory was 50% complete. (a) Your Answer Correct Answer (Used) Your answer is correct. Calculate the equivalent units of production for materials if weighted-average were used. Total equivalent units (b) eTextbook and Media Solution * Your answer is incorrect. Calculate the equivalent units of production for materials if FIFO were used. Total equivalent units 193.650 eTextbook and Media 182,550 Assistance Used Assistance Used Attempts: 3 of 3 used
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.
vaibhav
subject-Accounting
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