Equivalent units of production are equal to:a. The number of units that could have been started and completedgiven the costs incurred during the period.b. The number of finished units actually produced during a period.c. The number of units started into the process during a period.d. The number of units still in process at the end of a period.e. Physical units that were started and completed during a period.

The correct answer is:a. The number of units that could have been started and completed given the…

Answered: Equivalent units of production are…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6PB: The following data show the units in beginning work in process inventory, the number of units...

See similar textbooks

Similar questions

Which is nor needed to compute equivalent units of production? A. the percentage of completion for inventory still in process B. the number of units transferred out C. the number of units started and completed D. the material cost per unit
Which of the following is the step in which materials, labor, and overhead are detailed? A. determining the units to which costs are assigned B. determining the equivalent units of production C. determining the cost per equivalent units D. allocating the costs to the units transferred out and the units partially completed
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
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
Equivalent units of production are equal to the * a. units completed by a production department in the period. b. number of units worked on during the period by a production department. c. number of whole units that could have been completed if all work of the period had been used to produce whole units. d. identifiable units existing at the end of the period in a production department.
Equivalent units of production are the a.number of units in production during a period, whether completed or not. b.portion of whole units that are complete with respect to materials or selling costs. c.portion of whole units that are complete with respect to factory overhead costs. d.portion of whole units that are complete with respect to materials or conversion costs.
Equivalent units expresses all activity of the period in terms of a.partially completed units. b.direct labor hours. c.fully completed units. d.units of input.
That which determine(s) whether the costs assigned to units transferred out and to units in ending work in process are equal to the costs in beginning work in process, plus the manufacturing costs incurred in the current period is(are) called: a.Cost reconciliation b.Transferred-in costs c.Batch production process d.Equivalent unit of output
Management Accounting Required: a. Calculate the cost per equivalent unit for direct materials and conversion costs. b. Determine the dollar value of units completed (and transferred out) and the dollar value of units in ending work in process.
In a process costing system, how is the unit cost affected in a production cost report when materials are added in a department subsequent to the first department and the added materials result in additional units? a. the first departments unit cost is increased, which necessitates an adjustment of the transferred-in unit cost b. the first department’s unit cost is decreased, which necessitates an adjustment of the transferred-in unit cost c. the first department’s unit cost is increased, but it does not necessitate an adjustment of the transferred-in unit cost d. the first department’s unit cost is decreased, but it does not necessitate an adjustment of the transferred-in unit cost
The first production department of Stone Incorporated reports the following for April. Direct Materials Percent Complete 75% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 73,000 387,000 365,000 95,000 85% Conversion Percent Complete 25% 35%

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Entrepreneurial Finance

Finance

ISBN:

9781337635653

Author:

Leach

Publisher:

Cengage

SEE MORE TEXTBOOKS