Choose the correct statements :

Step 1: A physical flow schedule shows the units to account for and also accounts for them, regardless of their stage of completion. It is the first of five steps for process costing. There are two sections to the schedule: Units to Account for: Units in EWIP OR XXXXX Units in BWIP Units started Total units to account for Units accounted for: Units Completed: From: BWIP XXXXX OR EWIP Started and completed XXXXX XXXXX Units in BWIP OR EWIP XXXXX Total units accounted for XXXXX Step 2: Equivalent units are the complete units that could have been produced given the total amount of producing effort expended for the period under consideration. Preparing a schedule of equivalent units is the second of five steps of process costing. Equivalent units measure the 1-units in process 2-all units to account for3-output of the period. A fully completed unit is counted as a unit of output. Output in ending work in process is counted by its degree of completion. If, for example, production inputs are applied uniformly, then saying that work in process is 25 percent complete means that 25 percent of the direct materials, direct labor, and overhead have been used and that another 75 percent are needed to finish the units. If there is no BWIP, and if all manufacturing inputs are applied uniformly for a process, the calculation for equivalent units is as follows: Units Completed OR Units to Account For XXXXX Units in EWIP * Fraction complete Equivalent units XXXXX However, if materials are added at the beginning or end of the process then there will be different OR Similar completion percentages for materials and conversion costs. Typically, conversion costs are added 1- at discrete points 2-uniformly and materials are added 1- at discrete points 2- However, if materials are added at the beginning or end of the process then there will be different OR Similar completion percentages for materials and conversion costs. Typically, conversion costs are added 1- at discrete points 2-uniformly and materials are added 1- at discrete points 2- uniformly in the production process. Assuming that conversion is less than 100 percent at a given point in time, materials added at the beginning are 1-100 percent complete 2- O percent complete and materials added at the end are 1-100 percent complete 2- 0 percent complete . If there is no BWIP and inputs are not added uniformly, then equivalent units are calculated for each type of input as follows: Direct Conversion Materials Costs Units Completed OR Units to Account For Units in EWIP x Fraction complete XXXXX Equivalent units XXXXX XXXXX Step 3: In principle, calculating unit costs in a process-costing system is very simple. First, measure the manufacturing costs for a process department for a given period of time. Second, measure the output for the process department for the same period of time. Finally, the unit cost for the process department is computed by dividing 1-the costs of the completed job by the job's output 2-costs of the period by the output of the period . Thus, for the scenario where there is no BWIP and inputs are applied uniformly, we have the following formula: Unit cost = Total Production Costs/Equivalent Units If, on the other hand, inputs are not applied uniformly, a unit cost is calculated for each input. For this scenario--where there is no BWIP and inputs are not all applied uniformly, the following formula is used: Unit cost = (Direct materials cost/Equivalent Units of Materials) + (Conversion Cost/Equivalent Units of Conversion) or Unit cost = Unit Materials Cost + Unit Conversion Cost Step 1: A physical flow schedule shows the units to account for and also accounts for them, regardless of their stage of completion. It is the first of five steps for process costing. There are two sections to the schedule: Units to Account for: Units in EWIP OR XXXXX Units in BWIP Units started Total units to account for Units accounted for: Units Completed: From: BWIP XXXXX OR EWIP Started and completed XXXXX XXXXX Units in BWIP OR EWIP XXXXX Total units accounted for XXXXX Step 2: Equivalent units are the complete units that could have been produced given the total amount of producing effort expended for the period under consideration. Preparing a schedule of equivalent units is the second of five steps of process costing. Equivalent units measure the 1-units in process 2-all units to account for3-output of the period. A fully completed unit is counted as a unit of output. Output in ending work in process is counted by its degree of completion. If, for example, production inputs are applied uniformly, then saying that work in process is 25 percent complete means that 25 percent of the direct materials, direct labor, and overhead have been used and that another 75 percent are needed to finish the units. If there is no BWIP, and if all manufacturing inputs are applied uniformly for a process, the calculation for equivalent units is as follows: Units Completed OR Units to Account For XXXXX Units in EWIP * Fraction complete Equivalent units XXXXX However, if materials are added at the beginning or end of the process then there will be different OR Similar completion percentages for materials and conversion costs. Typically, conversion costs are added 1- at discrete points 2-uniformly and materials are added 1- at discrete points 2- However, if materials are added at the beginning or end of the process then there will be different OR Similar completion percentages for materials and conversion costs. Typically, conversion costs are added 1- at discrete points 2-uniformly and materials are added 1- at discrete points 2- uniformly in the production process. Assuming that conversion is less than 100 percent at a given point in time, materials added at the beginning are 1-100 percent complete 2- O percent complete and materials added at the end are 1-100 percent complete 2- 0 percent complete . If there is no BWIP and inputs are not added uniformly, then equivalent units are calculated for each type of input as follows: Direct Conversion Materials Costs Units Completed OR Units to Account For Units in EWIP x Fraction complete XXXXX Equivalent units XXXXX XXXXX Step 3: In principle, calculating unit costs in a process-costing system is very simple. First, measure the manufacturing costs for a process department for a given period of time. Second, measure the output for the process department for the same period of time. Finally, the unit cost for the process department is computed by dividing 1-the costs of the completed job by the job's output 2-costs of the period by the output of the period . Thus, for the scenario where there is no BWIP and inputs are applied uniformly, we have the following formula: Unit cost = Total Production Costs/Equivalent Units If, on the other hand, inputs are not applied uniformly, a unit cost is calculated for each input. For this scenario--where there is no BWIP and inputs are not all applied uniformly, the following formula is used: Unit cost = (Direct materials cost/Equivalent Units of Materials) + (Conversion Cost/Equivalent Units of Conversion) or Unit cost = Unit Materials Cost + Unit Conversion Cost