Cost per equivalent unit this period Cost in beginning work-in-process inventory Convers $3.00 $24,000 $5.00 $29,400 Equivalent units to complete beginning inventory 0 2,400 Units started and completed this period 26,000 26,000 Equivalent units in completed ending inventory 12,000 4,800 Materials are added at the beginning of the production process. Conversion costs are added uniformly throughout the production process.
Cost per equivalent unit this period Cost in beginning work-in-process inventory Convers $3.00 $24,000 $5.00 $29,400 Equivalent units to complete beginning inventory 0 2,400 Units started and completed this period 26,000 26,000 Equivalent units in completed ending inventory 12,000 4,800 Materials are added at the beginning of the production process. Conversion costs are added uniformly throughout the production process.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 10E: Costs per equivalent unit Georgia Products Inc. completed and transferred 89,000 particle board...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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