Under weighted average method, the equivalent units used to compute the unit costs of ending inventories relate only to work done during the current period. 2. Process costing is used to account for products that needs further processing. 3. Using the weighted average, if materials are added at the start of the process, the EUP for materials is equal to the units completed and transferred.
Under weighted average method, the equivalent units used to compute the unit costs of ending inventories relate only to work done during the current period. 2. Process costing is used to account for products that needs further processing. 3. Using the weighted average, if materials are added at the start of the process, the EUP for materials is equal to the units completed and transferred.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Under weighted average method, the equivalent units used to compute the unit costs of ending inventories relate only to work done during the current period.
2.
3. Using the weighted average, if materials are added at the start of the process, the EUP for materials is equal to the units completed and transferred.
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