Question

Briefly explain how equivalent units are calculated. ​​​

Briefly explain how equivalent units are calculated.
​​​

Homework Answers

Answer #1
Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks!
Briefly explain how equivalent units are calculated.
Equivalent units are calculated for use in process costing method. Equivalent unit means units produced on the basis of percentage completed of material and conversion costs.
Equivalent units are calculated as whole units * percentage complete of materials and conversion costs.
Suppose if whole units is 100 but it is completed only 60% with respect to materials then equivalent units for materials is 100*60%= 60 units.
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Briefly explain what you understand by Earnings per share (EPS). How is EPS calculated and why...
Briefly explain what you understand by Earnings per share (EPS). How is EPS calculated and why it is important for investors to gauge the value of a share?
Briefly explain SI units and the importance of SI dimensions.
Briefly explain SI units and the importance of SI dimensions.
"It is difficult to understand how costs can be assigned to equivalent units when such units...
"It is difficult to understand how costs can be assigned to equivalent units when such units do not really exist in a physical form." Discuss
1. Is impulse the same as momentum or is it different?  Explain. 2. How are the units...
1. Is impulse the same as momentum or is it different?  Explain. 2. How are the units for momentum  compared to the units for impulse? 3. There is a formula that describes the relationship between impulse and momentum, what is it?  Write it down below and briefly explain what it means.
What is a diuretic and how briefly explain how it works?
What is a diuretic and how briefly explain how it works?
What is the primary reason for computing equivalent units? Equivalent units provide a means of: allocating...
What is the primary reason for computing equivalent units? Equivalent units provide a means of: allocating costs between production areas. determining the cost of outsourcing production. determining the number of completed units in ending inventory. allocating costs between work-in-process and ending inventory
briefly explain how people learn prejudice
briefly explain how people learn prejudice
n October, Pedraza Corp.’s production was 53,600 equivalent units for direct material, 48,800 equivalent units for...
n October, Pedraza Corp.’s production was 53,600 equivalent units for direct material, 48,800 equivalent units for direct labor, and 42,000 equivalent units for overhead. During October, direct material, conversion, and overhead costs incurred were as follows: Direct material $158,688 Conversion 189,648 Overhead 85,200 Beginning WIP Inventory costs for October were $26,232 for direct material, $19,504 for direct labor, and $20,640 for overhead. a. How much did Pedraza Corp. spend on direct labor in October? $Answer b. What was the October...
Equivalent Units of Production Units of production data for the two departments of Continental Cable and...
Equivalent Units of Production Units of production data for the two departments of Continental Cable and Wire Company for November of the current fiscal year are as follows: Drawing Department Winding Department Work in process, November 1 6,900 units, 25% completed 3,500 units, 60% completed Completed and transferred to next processing department during November 94,500 units 93,200 units Work in process, November 30 5,200 units, 75% completed 4,800 units, 20% completed a. If all direct materials are placed in process...
Equivalent Units of Production Units of production data for the two departments of Pacific Cable and...
Equivalent Units of Production Units of production data for the two departments of Pacific Cable and Wire Company for November of the current fiscal year are as follows: Drawing Department Winding Department Work in process, November 1 4,900 units, 55% completed 3,200 units, 60% completed Completed and transferred to next processing department during November 67,100 units 65,900 units Work in process, November 30 3,700 units, 55% completed 4,400 units, 25% completed a. If all direct materials are placed in process...