So after 4Hrs. on like 25 MCQs… Can someone confirm or deny my comprehension of Calculating Equivalent Units of Production (EUOP)
1. Must Consider EUOP METHODs
i. Weighted Average Method (WA) = 0 + FG100% +EWIP%
ii. FIFO Method (FIFO) = (BWIP%) + FG100% + EWIP%
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2. Must Consider: Material% Depends on if added @ Beg. or End of Production:
a. “MATERIAL EUOP”
i. If, Added @ Beginning of Process @ B/EWIP100%
WA Material = FG100% + EWIP100%
FIFO Material = (BWIP100%) + FG100% + EWIP100%
ii. If, Added @ End of Process @ B/EWIP0%
WA Material = FG100% + EWIP0%
FIFO Material = (BWIP100%) + FG100% + EWIP0%
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3. Must Consider: Conversion% Depends on % Completed
a. “CONVERSION EUOP”
i. WA Conversion = FG100% +EWIP%
ii. FIFO Conversion = (BWIP%) + FG100% + EWIP%
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4. Total Production Costs per EUOP (TC/UOP) = Material Cost / EUOP + Conversion Cos / EUOP
a. Total Material Costs/EUOP
i. Material WA TC / EUOP = (Material: Beg. Costs + Current Period Costs) / (WA Material EUOP)
ii. Material FIFO TC / EUOP = (Material: Current Period Costs) / (FIFO Material EUOP)
b. Total Conversion Costs
i. Conversion WA TC / EUOP = (Conversion: Beg. Costs + Current Period Costs) / (WA Conversion EUOP)
ii. Conversion FIFO TC / EUOP = (Conversion: Current Period Costs) / (FIFO Conversion EUOP)
c. Total Production Costs per EUOP, Depends on Method Employed
i. WA Total Production Costs = Material WATC/EUOP + Conversion WATC/EUOP
ii. FIFO Total Production Costs = Material FIFOTC/EUOP + Conversion FIFO/EUOP
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Sorry, just super frustrated, and had to put it all together from working MCQs and not the oversimplified explanations in the chapter read 🙁 So if anyone could confirm, correct, or provide better explanation that would be AWESOME!!!
FAR - 7/16/2012 *76 : 2.5mo [Exp. 1/2014]
AUD - 8/31/2012 *82 : 1mo
REG - 11/27/2012 *83 : 2.5mo
BEC - 2/27/2013 *80 : 2.5mo LET'S DO THIS!!!
Ethics - 3/13
[ 2011 Kaplan Self Study - Textbook, MP3s, FlashCards ]
CMA... Hmmm...???
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