Question
Equivalent Units of Production: Average Cost Method

The Converting Department of Tender Soft Tissue Company uses the average cost method and had 3,600 units in work in process that were 60% complete at the beginning of the period. During the period, 45,400 units were completed and transferred to the Packing Department. There were 2,000 units in process that were 20% complete at the end of the period.

a.  Determine the number of whole units to be accounted for and to be assigned costs for the period. 

____ units

b.  Determine the number of equivalent units of production for the period.

___ units

Expert Answer

1 Rating

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Cost Accounting

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: You are considering purchasing a new punch press machine. This machine will have an estimated servic...

A: The expected rate of return will be the internal rate of return of the project. The internal rate of...

Q: If the term is 2/10, n/30, purchase made on July 1 should be paid until

A: Introduction: Credit sales: Goods sold on credit to the customers called as credit sales. Seller wil...

Q: Hello, I had posted this question 14 hours ago and I got feedback that the question is incomplete wh...

A: Revaluation reserve: It is an account created to record the effect of an increase or decrease in the...

Q: Q.(i) . Selling Price :Rs. 12 Per UnitVariable Cost : 2/3 of SPFixed Cost :Rs. 40,000You are require...

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: a. Journalize the entries by Silverman Enterprises to record the December 28, 20Y3 sale, using the n...

A: Meaning of Inventory Inventory are the goods which are held by the company for the purpose of resal...

Q: Entries for Direct Labor and Factory Overhead Townsend Industries Inc. manufactures recreational veh...

A: Manufacturing overheads are the costs incurred upon the production of goods for its final output. Th...

Q: Chapter : Adjusted Financial Statements

A: The financial statements are to be prepared using trial balance and adjustments. The financial state...

Q: Chapter : Adjustment financial statements

A: The trial balance is used to prepare Profit or loss and balance sheet for the business. These financ...

Q: Do you ever wonder why these Breakeven Charts are necessary to prepare only for manufacturing busine...

A: Break even points are where total fixed costs and variable costs are equal to sales revenue that mea...

Q: Which of the following statements is false with respect to a budgeted income statement? Its interest...

A: The budgeted income statement is like other income statements which shows all the expenses and the r...

Q: A company has revenue of 48000 and total expenses of 52000. What are the closing enteries?

A: Sales entry   Cash / Debtor  A/c Dr.       to  Sales A/c   Purchase Entry   Purchase  A/c  Dr.      ...

Q: Accounts payable                                  $ 120,000 Notes payable                           ...

A: Current liabilities are the short term obligations which are to be paid by the entity if the amount ...

Q: Contingent situation is a potential negative event that may occur in the future, such as an economic...

A: Contingencies are potential liabilities that might result because of a past event. The likelihood of...

Q: Question 2.  Case 6 A company has fixed costs of $90,000. Its contribution margin ratio is 30% and t...

A: The contribution margin ratio (CMR) is determined by dividing the difference between sales and varia...

Q: Equivalent Units of Production and Related Costs The charges to Work in Process—Baking Department fo...

A: Hello, I am only answering first three subparts as per the policy and if you want others to be answe...

Q: Journalize the entries for the following adjustments at January 31, the end of the accounting period...

A: Journal is the recording of financial transactions for a going concern in a chronological order acco...

Q: 7.9  Lancaster Company makes electrical parts for contractors and home improvement retail stores. Af...

A: Click to see the answer

Q: Case 8 Decide whether each situation is or is not a symptom of revenue fraud. Then explain (1) why t...

A: The income earned due to performing regular business operation is known as revenue. It is computed f...

Q: Q6 b. You are working with a firm of Cost Consultants. A client having a large manufacturing FMCG co...

A: A cost accounting system and management accounting system refers to as a system of accounting that a...

Q: The sales department receives the unstandardised sales order since customer orders are mailed, e-mai...

A: Internal control is the system of control inside the organization, used by an organization to decrea...

Q: 1.The following are various activities for a business school Required Suggest a feasible cost driver...

A: Given: The suitable cost driver for the following particulars are asked.

Q: VimalZarival and Rajesh Garg operate as estate agents in Mumbai. When their bookkeeper retired, Vima...

A: The accounting concepts are the rules and regulations that should be followed by companies while pre...

Q: How do you measure Return on Investment (ROI) of alogistics firm?

A: Return on Investment (ROI) :               It represents the benefits earned by the investor in retu...

Q: E2.17 Broad Company reported the following selected financial results for 2019 and 2020. 2019 2020 O...

A: FCF is calculated as follows

Q: Q5. The details regarding Labour force engaged in a work scheduled to be completed in 30 hours are a...

A: Labour variance is the variance which occurs when there is difference between standard cost and actu...

Q: As of December 31, 2019, Audi Company's financial records show the following items and amounts. Cash...

A: Income statement is also known as profit or loss account. It shows the performance of the corporatio...

Q: P4.4B The August 31 bank statement of Palm Harbor Apartments has just arrived from Florida First Ban...

A: Bank Reconciliation Statement is a statement prepared to reconcile the difference between the balanc...

Q: One difference is that Harbor Company uses the straight-line method whereas Kate Company uses the de...

A: Given information, Harbor follows straight line method whereas Kate company follows Declining balanc...

Q: If actual production overhead costs incurred in May were $9,550, calculate the over absorbed overhea...

A: Over absorbed overhead is a situation when the estimated overhead is more than the actual overhead f...

Q: 1.The following are various activities for a business school Required Suggest a feasible cost driver...

A: 1. Following are the various activities of business school  Feasible cost driver for each of the fol...

Q: Journalise the above transaction and post them into the ledger

A: Capital introduced=Cash+building=Rs 65,000+Rs 120,000=Rs 185,000

Q: Ba ) Prepare the Multi-Stp lnm Satemans of the company for the year ended Decenber 31. 2011. ) Prepa...

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: (a) Determine the annual and total depreciation recorded by each company during the 3 years. (b) Ass...

A: Depreciation is the reduction or depletion in the value of fixed assets over its useful life. It red...

Q: Curitiba plc., a services provider, leased a computer from CZ Finance plc. on 1 January 20X1.  The t...

A: Lessor and Lessee agreements: A lease of immovable property is a transfer of a right to enjoy such p...

Q: emier ation online, we know eing shared on the Internet especially in Independence every 12th of Jun...

A: Income summary account: It can be defined as a temporary account in which all revenues and expenses ...

Q: Q7 a.A manufacturer produces a car component. The cost sheet of the component is as follows: Direct ...

A: The decisions making process is depend on the future differential cost and the incremental benefit f...

Q: CHAPTER : BANK RECONCILIATION

A: Bank Reconciliation:- It is a statement where the bank statement balance matches the cash book balan...

Q: A company produces three products with the following budget information available:ABCSalesGH₵14GH₵15...

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for yo...

Q: Q.a.Do you agree from the following statements- Explain in details with examples(i) Variable costs a...

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want rem...

Q: Demolish Co. uses the “cost recovery method” (traditional accounting based on old US GAAP). The reco...

A: Under cost recovery method, the company doesn't recognise the profits till the time money received f...

Q: Total number of units sold was 50,000 units. Variable cost per unit was 9$, Selling price was 15$ an...

A: The Numerical has covered the concept of Income Statement. In this numerical, we use the contributio...

Q: 11. Consider the weighted voting system {q: 20, 12, 8, 6, 6}What is the smallest value the quota cou...

A: Hi student Since there are multiple questions, we will answer only first question. 

Q: A drilling company during the current year extended the estimated useful life of certain drilling eq...

A: Income statement: The financial statement which reports revenues and expenses from business operatio...