Equivalent Units of Production: As per equivalent units of production, the units which are yet to complete are treated at par with fully completed units in order to allocate production cost uniformly. Both fully completed units and partially completed units are represented by fully completed units. To identify: The correct option.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 16, Problem 1MCQ

To determine

Equivalent Units of Production:

As per equivalent units of production, the units which are yet to complete are treated at par with fully completed units in order to allocate production cost uniformly. Both fully completed units and partially completed units are represented by fully completed units.

To identify: The correct option.

Expert Solution & Answer

Explanation of Solution

‘Option d: The number of units that could have been started and completed given the cost incurred’ is the correct option.

Option d

Equivalent cost of production assigns the production cost uniformly to both completed units as well as partially completed units. Hence partially completed units are treated at par with completed units.

Option a

Since equivalent units of production consider both completed and partially completed units. So, this is not a correct option.

Option b

The number of units introduced into the process this period.

Since equivalent units of production consider both completed and partially completed units, this is not a correct option.

Option c

Since equivalent units of production consider both finished and partially finished units not only finished units, this is not a correct option.

Option e

Since equivalent units of production consider both completed and partially completed units not only units in process. So, this is not a correct option.

Hence the correct option is ‘d’.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Please solve this question financial accounting

What is the amount of pension expense for 2008? General accounting

I don't need ai answer general accounting question

Answer 2

Question

Chapter 16, Problem 1MCQ

To determine

Equivalent Units of Production:

As per equivalent units of production, the units which are yet to complete are treated at par with fully completed units in order to allocate production cost uniformly. Both fully completed units and partially completed units are represented by fully completed units.

To identify: The correct option.

Expert Solution & Answer

Explanation of Solution

‘Option d: The number of units that could have been started and completed given the cost incurred’ is the correct option.

Option d

Equivalent cost of production assigns the production cost uniformly to both completed units as well as partially completed units. Hence partially completed units are treated at par with completed units.

Option a

Since equivalent units of production consider both completed and partially completed units. So, this is not a correct option.

Option b

The number of units introduced into the process this period.

Since equivalent units of production consider both completed and partially completed units, this is not a correct option.

Option c

Since equivalent units of production consider both finished and partially finished units not only finished units, this is not a correct option.

Option e

Since equivalent units of production consider both completed and partially completed units not only units in process. So, this is not a correct option.

Hence the correct option is ‘d’.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 16, Problem 1MCQ

To determine

Equivalent Units of Production:

As per equivalent units of production, the units which are yet to complete are treated at par with fully completed units in order to allocate production cost uniformly. Both fully completed units and partially completed units are represented by fully completed units.

To identify: The correct option.

Expert Solution & Answer

Explanation of Solution

‘Option d: The number of units that could have been started and completed given the cost incurred’ is the correct option.

Option d

Equivalent cost of production assigns the production cost uniformly to both completed units as well as partially completed units. Hence partially completed units are treated at par with completed units.

Option a

Since equivalent units of production consider both completed and partially completed units. So, this is not a correct option.

Option b

The number of units introduced into the process this period.

Since equivalent units of production consider both completed and partially completed units, this is not a correct option.

Option c

Since equivalent units of production consider both finished and partially finished units not only finished units, this is not a correct option.

Option e

Since equivalent units of production consider both completed and partially completed units not only units in process. So, this is not a correct option.

Hence the correct option is ‘d’.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 16, Problem 1MCQ

To determine

Equivalent Units of Production:

As per equivalent units of production, the units which are yet to complete are treated at par with fully completed units in order to allocate production cost uniformly. Both fully completed units and partially completed units are represented by fully completed units.

To identify: The correct option.

Expert Solution & Answer

Explanation of Solution

‘Option d: The number of units that could have been started and completed given the cost incurred’ is the correct option.

Option d

Equivalent cost of production assigns the production cost uniformly to both completed units as well as partially completed units. Hence partially completed units are treated at par with completed units.

Option a

Since equivalent units of production consider both completed and partially completed units. So, this is not a correct option.

Option b

The number of units introduced into the process this period.

Since equivalent units of production consider both completed and partially completed units, this is not a correct option.

Option c

Since equivalent units of production consider both finished and partially finished units not only finished units, this is not a correct option.

Option e

Since equivalent units of production consider both completed and partially completed units not only units in process. So, this is not a correct option.

Hence the correct option is ‘d’.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 16, Problem 1MCQ

To determine

Equivalent Units of Production:

As per equivalent units of production, the units which are yet to complete are treated at par with fully completed units in order to allocate production cost uniformly. Both fully completed units and partially completed units are represented by fully completed units.

To identify: The correct option.

Expert Solution & Answer

Explanation of Solution

‘Option d: The number of units that could have been started and completed given the cost incurred’ is the correct option.

Option d

Equivalent cost of production assigns the production cost uniformly to both completed units as well as partially completed units. Hence partially completed units are treated at par with completed units.

Option a

Since equivalent units of production consider both completed and partially completed units. So, this is not a correct option.

Option b

The number of units introduced into the process this period.

Since equivalent units of production consider both completed and partially completed units, this is not a correct option.

Option c

Since equivalent units of production consider both finished and partially finished units not only finished units, this is not a correct option.

Option e

Since equivalent units of production consider both completed and partially completed units not only units in process. So, this is not a correct option.

Hence the correct option is ‘d’.

Answer 6

Chapter 16, Problem 1MCQ

To determine

Equivalent Units of Production:

As per equivalent units of production, the units which are yet to complete are treated at par with fully completed units in order to allocate production cost uniformly. Both fully completed units and partially completed units are represented by fully completed units.

To identify: The correct option.

Expert Solution & Answer

Explanation of Solution

‘Option d: The number of units that could have been started and completed given the cost incurred’ is the correct option.

Option d

Equivalent cost of production assigns the production cost uniformly to both completed units as well as partially completed units. Hence partially completed units are treated at par with completed units.

Option a

Since equivalent units of production consider both completed and partially completed units. So, this is not a correct option.

Option b

The number of units introduced into the process this period.

Since equivalent units of production consider both completed and partially completed units, this is not a correct option.

Option c

Since equivalent units of production consider both finished and partially finished units not only finished units, this is not a correct option.

Option e

Since equivalent units of production consider both completed and partially completed units not only units in process. So, this is not a correct option.

Hence the correct option is ‘d’.

Answer 7

Chapter 16, Problem 1MCQ

To determine

Equivalent Units of Production:

As per equivalent units of production, the units which are yet to complete are treated at par with fully completed units in order to allocate production cost uniformly. Both fully completed units and partially completed units are represented by fully completed units.

To identify: The correct option.

Answer 8

Expert Solution & Answer

Explanation of Solution

‘Option d: The number of units that could have been started and completed given the cost incurred’ is the correct option.

Option d

Equivalent cost of production assigns the production cost uniformly to both completed units as well as partially completed units. Hence partially completed units are treated at par with completed units.

Option a

Since equivalent units of production consider both completed and partially completed units. So, this is not a correct option.

Option b

The number of units introduced into the process this period.

Since equivalent units of production consider both completed and partially completed units, this is not a correct option.

Option c

Since equivalent units of production consider both finished and partially finished units not only finished units, this is not a correct option.

Option e

Since equivalent units of production consider both completed and partially completed units not only units in process. So, this is not a correct option.

Hence the correct option is ‘d’.