Lecture 4 Flashcards
1
Q
The cost per equivalent unit using WAM is calculated as
A
Total input costs/Equivalent units produced
2
Q
When calcualting EU, the method that combines partially completed units in the beginning inventory with the current period production is the:
A
Weighted average
3
Q
If costs off manufacturing inputs fluctuate from period to period, which method is the most useful
A
FIFO method
4
Q
Equivalent production expresses all activities in terms of
A
Fully completed units
5
Q
Joint product
A
significant relative sales value
6
Q
By-product
A
no influence on whether to produce the main product or the price at which to sell it
