Required information [The following information applies to the questions displayed below.] Oasis Company adds all materials at the beginning of its manufacturing process. Production information for selected months of the year follows: Required: 1. Reconcile the number of physical units to find the missing amounts. 2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted-average method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Reconcile the number of physical units to find the missing amounts. Beginning Work in Process Conversion Complete (percent) Month February June September December Units 1,500 4,400 3,500 49 73 24 37 Units Units Started Transferred Out 23,700 25,900 22,900 Required 1 19,100 25,300 20,900 Ending Work in Process Conversion Complete (percent) Units 7,400 3,600 2,600 Required 2 > 22 40 50 77
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.
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![Required information
[The following information applies to the questions displayed below.]
Oasis Company adds all materials at the beginning of its manufacturing process. Production information for selected
months of the year follows:
Required:
1. Reconcile the number of physical units to find the missing amounts.
2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted-average method.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Reconcile the number of physical units to find the missing amounts.
Beginning Work in Process
Conversion
Complete
(percent)
Month
February
June
September
December
Units
Month
February
1,500
4,400
June
3,500
September
December
49
73
24
37
Units
Units
Started Transferred Out
23,700
25,900
22,900
Materials
<Required 1
19,100
Required:
1. Reconcile the number of physical units to find the missing amounts.
2. Calculate the number of equivalent units for both materials and conversion for each month
Equivalent Units
25,300
20,900
Complete this question by entering your answers in the tabs below.
Ending Work in Process
Conversion
Complete
(percent)
Required 1
Required 2
Calculate the number of equivalent units for both materials and conversion for Each month using th
method.
Conversion
Units
7,400
3,600
2,600
Required 2 >
22
40
50
77](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe6eded52-2018-4ecb-b0f1-eb6283ecced3%2F4e75191c-edae-4aa1-b34e-5f2623ff842d%2Fx55l8o_processed.jpeg&w=3840&q=75)
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