Equivalents units in Process costing : In Process costing, the Equivalent units concept is important to compute the actual cost associated with the units completed during the period and units remained in process at the end. The main difference between unit completed and units in process at end is that the units completed has been processed at 100% degree with respect to each element of cost and the units in process is treated as units which may not have completed at 100% degree for some or all elements of cost till the end of period. Therefore, the equivalent units concept is important where the units in process shall be taken in line of completed units by reducing its units on the basis of degree of completion of in process units for each element of cost. The Total equivalent units of production with respect to each element of cost shall be computed as per weighted average method.

Question

Want to see the full answer?

Answer 1

Question

Chapter 20, Problem 10QS

To determine

Equivalents units in Process costing:

In Process costing, the Equivalent units concept is important to compute the actual cost associated with the units completed during the period and units remained in process at the end. The main difference between unit completed and units in process at end is that the units completed has been processed at 100% degree with respect to each element of cost and the units in process is treated as units which may not have completed at 100% degree for some or all elements of cost till the end of period. Therefore, the equivalent units concept is important where the units in process shall be taken in line of completed units by reducing its units on the basis of degree of completion of in process units for each element of cost.

The Total equivalent units of production with respect to each element of cost shall be computed as per weighted average method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

please post this question in Account tutors feed

Anticipated unit sales are January, 5,000, February, 4,000, and March 8,000 Finished goods are consistently maintained at 80% of the following month's sales If units cost $10 each to produce, how much is February's total cost of production?

What is its net opreting profit after tax?

Answer 2

Question

Chapter 20, Problem 10QS

To determine

Equivalents units in Process costing:

In Process costing, the Equivalent units concept is important to compute the actual cost associated with the units completed during the period and units remained in process at the end. The main difference between unit completed and units in process at end is that the units completed has been processed at 100% degree with respect to each element of cost and the units in process is treated as units which may not have completed at 100% degree for some or all elements of cost till the end of period. Therefore, the equivalent units concept is important where the units in process shall be taken in line of completed units by reducing its units on the basis of degree of completion of in process units for each element of cost.

The Total equivalent units of production with respect to each element of cost shall be computed as per weighted average method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 20, Problem 10QS

To determine

Equivalents units in Process costing:

In Process costing, the Equivalent units concept is important to compute the actual cost associated with the units completed during the period and units remained in process at the end. The main difference between unit completed and units in process at end is that the units completed has been processed at 100% degree with respect to each element of cost and the units in process is treated as units which may not have completed at 100% degree for some or all elements of cost till the end of period. Therefore, the equivalent units concept is important where the units in process shall be taken in line of completed units by reducing its units on the basis of degree of completion of in process units for each element of cost.

The Total equivalent units of production with respect to each element of cost shall be computed as per weighted average method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 20, Problem 10QS

To determine

Equivalents units in Process costing:

In Process costing, the Equivalent units concept is important to compute the actual cost associated with the units completed during the period and units remained in process at the end. The main difference between unit completed and units in process at end is that the units completed has been processed at 100% degree with respect to each element of cost and the units in process is treated as units which may not have completed at 100% degree for some or all elements of cost till the end of period. Therefore, the equivalent units concept is important where the units in process shall be taken in line of completed units by reducing its units on the basis of degree of completion of in process units for each element of cost.

The Total equivalent units of production with respect to each element of cost shall be computed as per weighted average method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 20, Problem 10QS

To determine

Equivalents units in Process costing:

In Process costing, the Equivalent units concept is important to compute the actual cost associated with the units completed during the period and units remained in process at the end. The main difference between unit completed and units in process at end is that the units completed has been processed at 100% degree with respect to each element of cost and the units in process is treated as units which may not have completed at 100% degree for some or all elements of cost till the end of period. Therefore, the equivalent units concept is important where the units in process shall be taken in line of completed units by reducing its units on the basis of degree of completion of in process units for each element of cost.

The Total equivalent units of production with respect to each element of cost shall be computed as per weighted average method.

Answer 6

Chapter 20, Problem 10QS

To determine

Equivalents units in Process costing:

In Process costing, the Equivalent units concept is important to compute the actual cost associated with the units completed during the period and units remained in process at the end. The main difference between unit completed and units in process at end is that the units completed has been processed at 100% degree with respect to each element of cost and the units in process is treated as units which may not have completed at 100% degree for some or all elements of cost till the end of period. Therefore, the equivalent units concept is important where the units in process shall be taken in line of completed units by reducing its units on the basis of degree of completion of in process units for each element of cost.

The Total equivalent units of production with respect to each element of cost shall be computed as per weighted average method.

Answer 7

Chapter 20, Problem 10QS

To determine

Equivalents units in Process costing:

In Process costing, the Equivalent units concept is important to compute the actual cost associated with the units completed during the period and units remained in process at the end. The main difference between unit completed and units in process at end is that the units completed has been processed at 100% degree with respect to each element of cost and the units in process is treated as units which may not have completed at 100% degree for some or all elements of cost till the end of period. Therefore, the equivalent units concept is important where the units in process shall be taken in line of completed units by reducing its units on the basis of degree of completion of in process units for each element of cost.

The Total equivalent units of production with respect to each element of cost shall be computed as per weighted average method.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 20 - Prob. 1QS Ch. 20 - Prob. 2QS Ch. 20 - Process vs. job order operations C1 For each of...Ch. 20 - Physical flow reconciliation C2 Prepare a physical...Ch. 20 - Prob. 5QS Ch. 20 - A FIFO: Computing equivalent units C4 Refer to QS...Ch. 20 - Prob. 7QS Ch. 20 - Prob. 8QS Ch. 20 - Prob. 9QS Ch. 20 - Prob. 10QS

Concept explainers

Videos

Want to see the full answer?

Chapter 20 Solutions