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Hello! I would like to ask regarding cost accounting, specifically process cost system. It is about the case 2. In computing the equivalent units of
Hello! I would like to ask regarding cost accounting, specifically process cost system. It is about the case 2. In computing the equivalent units of production. Is the Beginning inventory Included? thank you E6-1 puting equivalent units of production Using the data given for Cases 1-3 the average cost method, com given for Cases 1-3 below, and assuming the use of not method, compute the separate equivalent units of tion-one for materials and one for labor and overhead- under each of the following assumptions (labor and factory over- head are applied evenly during the process in each assumption): Assumptions: a. All materials go into production at the beginning of the process. b. All materials go into production at the end of the process. (Note that this would have to be a department subsequent to the first department for all materials to be added at the end of the process.) c. At the beginning of the process, 75% of the materials go into production and 25% go into production when the process is one-half completed. Note that you will have three sol Vill have three solutions for each of the following cases: Case 1-Started in proces in process, end of completed. process 5,000 units; finished 3,000 units; work end of period, 2,000 units, three-fourths Case 2 - Opening inven in process 40,000 un cess, end of perio entory 5,000 units, three-fifths completed; started its; finished 39,000 units; work in pro- d of period, 6,000 units, one-fourth completed
Hello! I would like to ask regarding cost accounting, specifically process cost system. It is about the case 2. In computing the equivalent units of production. Is the Beginning inventory Included? thank you
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