what is the equivalent units of production for materials?  B) what is the equivalent units of production for conversion ?

Q: What is equivalent production? Explain in terms of its effect on computed unit costs.

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: Distinguish between Period cost and Product cost? Give two examples of each cos

A: Classification of costs on the basis of functions:- 1. Product Cost 2. Period Cost

Q: What units (whole vs equivalent) are complete with respect to materials or conversion and what units…

A: SOLUTION-  THE ACTIVITY OF PROCESSING DEPARTMENT IN TERMS OF FULLY COMPLETED UNITS IS KNOWN AS…

Q: What are the three types of manufacturing cost?

A: Manufacturing cost: Manufacturing cost is the sum total of various costs used or incurred in the…

Q: Conversion costs include A. product and period costs B. direct labor and manufacturing overhead…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: the calculation of the equivalent unit is based on ......... of a production process

A: Equivalent units of production: Equivalent units refer to the total amount of work done on the…

Q: How does the unit cost of producing an item depend on the total quantity of items that have been…

A: Unit cost is the cost of producing per unit. Unit cost includes both variable and fixed cost that…

Q: Define equivalent units of production.

A: Definition:   Process costing: It is a method of cost accounting, which is used where the production…

Q: Which of the following describes the term ‘cost unit’?   A basis for cost classification A…

A: Cost unit is the per-unit cost incurred to produce the product. It includes both costs i.e fixed…

Q: Which of the following is a conversion cost?A. raw materialsB. direct laborC. sales commissionsD.…

A: Conversion costs seem to be the expenses of converting raw resources into finished goods. In cost…

Q: What is included in indirect materials and indirect labor ?

A:

Q: ploys process costing system. A unit of prod hing before it is complete. Information regard Feb 1…

A: Inventory - Inventory is a crucial asset for any business. It is described as the assortment of raw…

Q: Reiner Company uses a FIFO process costing system. The company had 5,000 units that were 60 percent…

A: Since the material is added at the beginning of the process; therefore no. of units started during…

Q: Tyler Company uses a weighted average process costing system and started 30,000 units this month.…

A: Total units = Beginning units + Units started = 30,000 + 12,000 = 42,000

Q: How does adding direct material at the beginning or end of a process affect the equivalent unit

A: Process costing is a significantly costing system to measure, monitor and control under different…

Q: Research and development costs are classified as: O a. Inventoriable costs. O b. O c. O d. Product…

A: A cost accounting system is a system of accounting that is helpful for the internal management to…

Q: What is the Equivalent Units of Production?

A: Equivalent unit of production is a term that is used to be applied to the work in progress inventory…

Q: Stage of Completion Materials Units Conversion Beginning work-in-process Units started during the…

A: Solution...     Equivalent units of production    Particular  units  material    conversion…

Q: hat does equivalent units of production (EUP) mean, and why is it necessary for it to be correct?

A: Equivalent units of production (EUP) is a managerial accounting computation that estimates the…

Q: Why is the number of equivalent units for materials only sometimes equal to the equivalent units for…

A: Equivalent unit:-Equivalent unit is the way to express how much work has done in the process…

Q: What is meant by the term equivalent units, with regards to process costing?

A: The  term  equivalent  unit  in process  costing  refers to

Q: Define the term Raw-materials- inventory?

A: Inventory is the materials such as raw materials, finished products, in-process goods that are…

Q: Describe the term cost of the direct materials.

A: Cost:  Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

Q: Which one of the following is another name for product costs? Select one: a. Direct costs b. Period…

A: Product cost means the cost of producing one unit of finished goods.

Q: Which of the following would be both a prime cost and a conversion cost? direct labor direct…

A: Process costing: Process costing is included costs like labor, material, and overhead which…

Q: Which factors contribute to the cost of direct labor?

A: Direct labour refers to the labour which is directly related to the production of products of any…

Q: How are costs assumed to flow through the manufacturing process?

A: The costs incurred during manufacturing process are said to be manufacturing cost.

Q: Total units of direct material ?

A: Cost accounting is one of the branches of accounting. Process costing is one of the processes of…

Q: 2. How much of the materials in (1) above consisted of indirect materials?

A:

Q: Do the engineering decisions account for the majority of product costs?

A: Yes, engineering decisions will account for the majority of the cost of the product. The main task…

Q: How is “yield” determined for a process manufacturer?

A: Process costs It is a method of cost accounting, which is used where the production is continuous,…

Q: Cullumber Company manufactures basketballs. The first step is the production of internal rubber…

A: Equivalent Units of Production: As defined by the International Accounting Standards (IAS), an…

Q: How does the Units-of-Production Method give accurate results?

A: Depreciation:   It is the reduction in the value of an asset due to factors like normal usage and…

Q: Units of production method with workings required.

A: Depreciation is a decrease in the value of assets due to normal wear and tear, the effect of time,…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.