has a unit cost that is easy to calculate by dividing total production costs by the units produced.
Question 7.7. (TCO F) Equivalent units for a process costing system using the FIFO method would be equal to (Points : 6) units completed during the period, plus equivalent units in the ending work-in-process inventory. units started and completed during the period, plus equivalent units in the ending work-in-process inventory. units completed during the period and transferred out. units started and completed during the period, plus equivalent units in the ending work-in-process inventory, plus work needed to complete units in the beginning work-in-process inventory.
Question 8.8. (TCO C) The contribution margin equals (Points : 6) sales - expenses. sales - variable costs. sales - cost of goods sold. sales - fixed costs.