Ch. 3 Process Costing
Equivalent Units
Ch. 3 Process Costing
Equivalent Units: Videos & Practice Problems
0
Concept
Equivalent Units
Video duration:
3m0
Example
Equivalent Units
Video duration:
2m0
Problem
Baby Seater Co. has partially completed 8,000 units in ending work in process inventory. Each unit is 70% complete with conversion costs evenly incurred throughout the process. Calculate for the equivalent units of conversion costs.
A
6,000 of conversion costs
B
4,600 of conversion costs
C
6,400 of conversion costs
D
5,600 of conversion costs
0
Concept
Weighted Average Method
Video duration:
1m0
Example
Weighted Average Method
Video duration:
1m0
Problem
Candy Goods Co. implements a weighted-average method for process costing, and all materials are added at the start of production. What is the correct way to calculate costs of direct materials in this case?
A
Costs incurred during the period + cost of the ending work in process inventory
B
Cost of the beginning work in process inventory + cost of ending work in process inventory
C
Cost of units transferred out + cost of beginning work in process inventory
D
Costs incurred during the period + cost of the beginning work in process inventory
