Equivalent units are calculated by:a. multiplying the percentage of work done by the equivalentunits of output.b. dividing physical units by the percentage of work done.c. multiplying the percentage of work done by the physicalunits.d. dividing equivalent units by the percentage of work done.

The correct answer is:c. multiplying the percentage of work done by the physical units.…

Answered: Equivalent units are calculated by: a.…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 5PA: Complete the information in the cost computations shown here:

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the calculation of the equivalent unit is based on ......... of a production process
The term given to units that represents the number of completed units that is equal, in terms of production inputs, to a given number of partially completed units is: a.Units started and completed b.Units completed c.Equivalent units d.Total units in production
Explain the calculation of equivalent units of production.
Both the equivalent units schedules and the physical flow are prerequisites to calculating the a.unit cost. b.cost reconciliation. c.weighted average. d.operating costs.
Explain need for calculating more than one equivalent units of production.
The equivalent units for the FIFO unit cost represent: a. work done during the current period. b. work done during the current period and the previous period. c. work done on units completed during the current period. d. work done during the previous period. e. the same thing as the equivalent units for the weighted average unit cost.
In a process costing system, the cost per equivalent unit must be computed before computing equivalent units. True False
Common allocation bases are a. direct labor dollars, direct labor hours, and machine dollars b. direct labor dollars, direct labor hours, and machine hours c. machine dollars, direct labor dollars, and direct labor hours d. direct labor dollars, direct labor hours, and direct material dollars
Equivalent units of production are used in process accounting to A) measure the efficiency of the production process. B) establish standard costs. C) provide a means of assigning cost to partially completed units. D) allocate overhead to production.
Indicate which of the following phrases correctly completesthis sentence: “Equivalent units of production . . .” (Indicateall correct answers.)a. Are a measure of productive activity.b. Represent work done on units still in process, as well asthose completed during the period.c. Are used as the basis for computing per-unit costs inmost process cost accounting systems. d. Are computed separately for each significant input con-sumed in the production process.
1.The overhead absorption rate used to allocate manufacturing overhead is calculated by: Select one: a.dividing the total estimated manufacturing overhead costs by the total estimated quantity of the allocation base b.dividing the total estimated manufacturing overhead by the total actual quantity of the cost driver c.dividing the total actual manufacturing overhead costs by the total estimated quantity of the cost driver d.dividing the total estimated quantity of the cost driver by the total estimated manufacturing overhead costs
Complete the information in the cost computations shown here:

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Equivalent units are calculated by: a. multiplying the percentage of work done by the equivalent units of output. b. dividing physical units by the percentage of work done. c. multiplying the percentage of work done by the physical units. d. dividing equivalent units by the percentage of work done.