Studied by 3 people
Equivalent Units of Production (EUP) (weighted average method)
completed and transferred out + ending WIP
Equivalent Units of Production (EUP) (FIFO Method)
beginning WIP + Unit started and completed + ending WIP
units completed and transferred out/ stated and completed
ALWAYS 100% complete for both materials and conversion
conversion costs
Direct Labor + Manufacturing Overhead
cost per equivalent unit
(Beginning WIP + Cost added during period)/equivalent units of production
Predetermined Overhead Rate
estimated overhead costs / estimated activity base (direct labor)
overhead applied
POHR x actual activity
FIFO method
combines units and costs across two periods in computing equivalent units
FIFO method of process costing
beginning WIP, started and completed, end WIP
weighted average method
completed and transferred, ending WIP
units started and completed
completed and transferred out - beginning WIP
End Inventory
Beg. Inventory + Purchases - transferred out
units completed and transferred out equation
beginning inventory + started units - end inventory
cost per equivalent unit of production: weighted average method
beginning WIP costs + current costs incurred/ EUP
units to account for
beginning WIP + units started this period
Total units accounted for (weighted average method)
units completed and transferred + ending WIP
finished beginning inventory (FIFO method)
100%- % of indicated completed conversion
cost per equivalent unit of production: FIFO method
costs added / EUP
units accounted for (weighted average method)
completed and transferred out + ending WIP
units accounted for (FIFO method)
beginning WIP + Units started and completed + ending WIP
yield
nondefective units produced / units that could have beeen produced
Note 
Flashcard (85)