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Equivalent unit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Equivalent unit

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • March 30, 2022 at 5:40 pm #652341
    jermy01
    Participant
    • Topics: 51
    • Replies: 31
    • ☆☆

    The following data relate to a process for last month:

    Opening inventory = 200 units (70% complete)
    Completed output = 2,450 units
    Closing inventory= 300 units (40% complete)

    What were the equivalent units of production last month?

    In the question, it doesn’t say FIFO or weighted method. so I just do this

    op I= 200*70%=140
    cl I= 300*40%= 120
    .. don’t answer should be 200+2450+120=2710 ?

    March 31, 2022 at 7:26 am #652368
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54696
    • ☆☆☆☆☆

    Since the question does not ask for any costings – just for the equivalent units of production – it is irrelevant whether it is FIFO or weighted average.

    Finishing the opening WIP is 30% x 200 units = 60 equivalent units.

    Completed from start to finish are 2,450 = 200 = 2,250 units.

    Starting the closing WIP is 40% x 300 = 120 equivalent units.

    Therefore in total, the equivalent units are production are 60 + 2,250 + 120 = 2,430 units.

    Have you watched my free lectures on this? The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.

    March 31, 2022 at 3:15 pm #652430
    jermy01
    Participant
    • Topics: 51
    • Replies: 31
    • ☆☆

    thank you sir.

    March 31, 2022 at 3:24 pm #652432
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54696
    • ☆☆☆☆☆

    You are welcome 🙂

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