A company using process costing completed and transferred 8,000 units of a product to finished...
Question:
A company using process costing completed and transferred 8,000 units of a product to finished goods. In addition to the transferred units, 4,000 additional units were in process 40% complete when the period ended. In computing average unit cost, how many equivalent units would be used?
A. 12,000
B. 6,400
C. 8,000
D. 10,400
E. none of the above
Cost Per Equivalent Unit:
The details needed for the calculation of cost per equivalent unit are equivalent units, physical flow of units, total costs added during the period and at the beginning. The cost per equivalent unit is required to determine costs of both completed units and ending work-in-process inventory.
Answer and Explanation: 1
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Answer: E. none of the above.
Explanation:
Equivalent units is calculated as follows (using the weighted average method):
Equivalent units =...
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The Weighted-Average Method of Equivalent Units of Production
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Chapter 4 / Lesson 8
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Learn about how to use the weighted-average method of equivalent units of production in accounting. Use conversion to find the number of equivalent goods, while remembering the goods transferred out for the cost reconciliation report.
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