What is the distinction between equivalent units under the FIFO method and equivalent units under the weighted-average
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Under FIFO costing the equivalent units represent only the work done ...View the full answer
Answered By
Ann Wangechi
hey, there, paying attention to detail is one of my strong points, i do my very best combined with passion. i enjoy researching since the net is one of my favorite places to be and to learn. i am a proficient and versatile blog, article academic and research writing i possess excellent English writing skills, great proof-reading. i am a good communicator and always provide feedback in real time. i'm experienced in the writing field, competent in computing, essays, accounting and research work and also as a Database and Systems Administrator
4.90+
151+ Reviews
291+ Question Solved
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Question Posted:
Students also viewed these Managerial Accounting questions
-
What is the distinction between blocking and non-blocking with respect to messages?
-
What is the distinction between competing processes and cooperating processes?
-
What is the distinction between top-down (TD) and bottom-up (BU) budgeting? Why is BUTD used in companies that are more marketing oriented, whereas TDBU is found more frequently in finance-driven...
-
what is the formula of market share in cost accounting ? Data Socks Shorts Pants T-shirts Jackets Sales Price 8,794,500 5,558,815 14,711,730 15,394,500 16,792,601 Variable Costs 6,127,000 2,503,910...
-
How much of each of the following prizes or awards is taxable? a. Cheline received a $50,000 gift bag at the Oscars in 2012. b. Jon received a gold watch worth $350 for 25 years of service to his...
-
Identify the four components of a use case and how they affect each other.
-
Consider the data below. These data were collected in an experiment where \(x_{1}=\) reaction time in minutes and \(x_{2}=\) temperature in degrees Celsius. The response variable \(y\) is...
-
The adjusted trial balance of Amana Corporation at December 31 shows that sales revenue for the year was $513,000 and other revenue was $37,000. Cost of goods sold for that same period was $256,000,...
-
Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $ 8,700 (6,175) 2,525 (1,975) (150) (160) $ 240 Comparative Balance Sheets Assets December...
-
In terms of decision-making sequences, how would you explain and describe: (a) The 25-year-old, healthy worker who sees the same physician for minor medical needs; (b) The retired individual who...
-
If costs increase from one period to another, will costs that are transferred out of one department under FIFO costing be higher or lower than costs transferred out using weighted average costing?...
-
It has been said that a prior departments costs behave similarly to direct materials costs. Under what conditions are the costs similar? Why account for them separately?
-
How should a physician respond to a mother who asks if her daughter can get pneumococcal pneumonia again?
-
Navy Federal Credit Union borrows $16000000 at 8% for 88 days from the large bank Citigroup. Find the interest and the future value of the loanOn September 30, Ace Hardware borrowed $129000 to...
-
How does socialization differ across cultures and societies, and what factors contribute to these variations?
-
A firm plans to buy an equipment worth $ 1 , 0 0 0 , 0 0 0 in 5 years MARCS class life. The depreciation rate is 2 0 % , 3 2 % , 1 9 . 2 % , 1 1 . 5 2 % , 1 1 . 5 2 % and 5 . 7 6 % from year 1 to...
-
Bob borrowed some money from Larry. He was supposed to pay Larry $1,000 5 months ago and another $800 2 months from today. Bob missed his first payment from 5 months ago. Larry is worried that Bob...
-
what are the promotional activities for the Bestpresales.com real estate software Date plan: what is your timetable for mobilization? Support & Administration: who and what shall be involved in its...
-
Are zero input response and natural response and zero state response and forced response same?
-
Uniform electric field in Figure a uniform electric field is directed out of the page within a circular region of radius R = 3.00 cm. The magnitude of the electric field is given by E = (4.50 x 10-3...
-
Mary knows the answers to 20 of the 25 multiple choice questions on the Psychology 101 exam, but she has skipped several of the lectures, she must take random guesses for the other five. Assuming...
-
Duluth Company is preparing its cash budget for December. The following information is available concerning its accounts receivable: Estimated credit sales for December . . . . . . . . . . . . . . ....
-
Nassau Products is preparing a cash budget for April. The following information on accounts receivable collections is available from past collection experience: Percent of current months sales...
-
Scare-2-B-U (S2BU) specializes in costumes for all occasions. The average price of each of its costumes is $160. For each occasion, S2BU receives a 20 percent deposit two months before the occasion,...
-
How Effective human resource management and organizational behavior as they relate to organizational design? Explain briefly
-
Locate several classified ads from the web and/or the Sunday help wanted ads and find one of your choosing. - Analyze the effectiveness of one of these ads you have picked; you only need to analyze...
-
Please complete the problems below. Make sure to show the formulas you used and your calculations. Each problem is worth up to 3 pts. Problem #1 Selling price per uint 50 Unit...
Study smarter with the SolutionInn App