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Author Management Accounting question!
dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
20th Nov 07 at 11:32   View User's Profile U2U Member Reply With Quote
How are equivalent units accounted for in a manufacturing setting? Are they actually listed down as equivalent units with the % completed written next to them or as a note to the account or what? looking in some textbooks and it doesnt appear blaringly obvious

Cheers
Robbo
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Registered: 6th Aug 02
Location: London
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20th Nov 07 at 11:41   View User's Profile U2U Member Reply With Quote
What do you mean by equivalent units?
dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
20th Nov 07 at 13:48   View User's Profile U2U Member Reply With Quote
an equivalent unit is 'x' number of partially completed units with allocated costs added together to form the total cost of producing one full unit

i.e. 10 units 50% completed = 5 completed units (in allocated cost terms)
Robbo
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Registered: 6th Aug 02
Location: London
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20th Nov 07 at 13:49   View User's Profile U2U Member Reply With Quote
accounted for as part of WIP then based upon whatever method of costing your using, ie std, abc or absorption
dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
20th Nov 07 at 13:53   View User's Profile U2U Member Reply With Quote
aye that does make sense, for some reason couldnt read it as that form the textbook
Robbo
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Registered: 6th Aug 02
Location: London
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20th Nov 07 at 13:53   View User's Profile U2U Member Reply With Quote
np mate

 
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