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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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During the month of May, the grinding department produced and transferred out 2,300 units. EWIP had 500 units, 40% complete. There was no BWIP. The equivalent units of output for May are

  1. a. 2,000.
  2. b. 2,500.
  3. c. 2,300.
  4. d. 2,800.
  5. e. None of these.

To determine

Identify equivalent units of output for grinding department.

Explanation

Equivalent Units of Production:

The total units of finished goods along with those goods that are not fully complete are known as equivalent units of production. In other words, equivalent units of production measures both completed and nearly completed units.

b.

Use the following formula to calculate equivalent units of output:

Equivalent units of output=Units completed+Units in EWIP×Fraction completed=(2,300 units+(500 units×

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