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Umnica [9.8K]
4 years ago
11

Unit cost of materials for a department using the FIFO method of process costing is found by taking the total cost of materials

issued to the department during the year divided by a.total units manufactured. b.equivalent units of output. c.units in process. d.units started and completed.
Business
1 answer:
Brrunno [24]4 years ago
6 0

Answer:

b. equivalent units of output.

Explanation:

In the production process there are various kind of inventory, that is raw material inventory, work in process and then the finished inventory.

Thus, there is this equivalent units concepts which calculates the completed units that would have been produced in case of no work in process.

Thus, when we use FIFO method and we want to calculate the unit cost of materials assuming inventory of raw material is also added in stages rather than completely adding it as a first step itself, the correct equation = Total cost of materials/equivalent units of output.

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Assume that a parent company acquires its subsidiary on 1/1/xx, by exchanging 41,500 shares of its $1 par value common stock, wi
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A balance sheet is a summary of debit and credit balances of asset and liabilities in a ledger. It is a financial statement prepared in order to determine the financial position of a business, in the event of acquisition of a subsidiary by a parent company, then a consolidated balance sheet will be prepared to unite the two entities. A consolidated balance sheet is a financial statement prepared to record the asset and liabilities of the two entities as one entity.in this case the aquisi

Consolidated Balance Sheet As At 1/1/××

$ $

Fixed Asset

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293,625

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The evms term that represents the value of work actually accomplished is:
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