Cost Per Equivalent Unit (weighted average method)
Vložit
- čas přidán 1. 07. 2024
- This video explains what equivalent units are in the context of managerial accounting and demonstrates how to calculate the cost per equivalent unit with an in-depth example.
-
Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world.
-
SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS:
• A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING
• A 44-PAGE GUIDE TO U.S. TAXATION
• A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS
• MANY MORE FREE PDF GUIDES AND SPREADSHEETS
* eepurl.com/dIaa5z
-
SUPPORT EDSPIRA ON PATREON
* / prof_mclaughlin
-
GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT
* edspira.thinkific.com
-
LISTEN TO THE SCHEME PODCAST
* Apple Podcasts: podcasts.apple.com/us/podcast...
* Spotify: open.spotify.com/show/4WaNTqV...
* Website: www.edspira.com/podcast-2/
-
GET TAX TIPS ON TIKTOK
* / prof_mclaughlin
-
ACCESS INDEX OF VIDEOS
* www.edspira.com/index
-
CONNECT WITH EDSPIRA
* Facebook: / edspira
* Instagram: / edspiradotcom
* LinkedIn: / edspira
-
CONNECT WITH MICHAEL
* Twitter: / prof_mclaughlin
* LinkedIn: / prof-michael-mclaughlin
-
ABOUT EDSPIRA AND ITS CREATOR
* www.edspira.com/about/
* michaelmclaughlin.com
This was explained far better than the person that's supposed to be my professor. In a few minutes you explained what took him well over an hour to do and you conveyed these concepts far better. This was very helpful. Thank you for posting this.
Dogs Are the Best same here. Two hour lecture on this topic and this video explains it way better in 10 minutes. I’ll never understand that
I had a minute of explaination for this shit and he threw us a stack of paper told us to figure it out.
I thought i was the only one in this kind of a situation, turns out that all professors find it hard to explain such simple topics
give the man the nobel prize. YOU ARE THE MAN !!!!!!!!. PEOPLE NEED TO TAKE TEACHING LESSON FROM YOU
Thank you so much! I swear I fell asleep watching this a total of 3 times, but I finally got it the third time while half asleep!!! To all of those out there learning accounting, keep at it!!
weird way of bragging but ok..
@@joehopkins3684 u trippin
I literally never comment on youtube, don't know why.
But this video was fantastic!!
Sooooo much simpler to understand you than my textbook.
Thank you for the kind words. You made my day! Best wishes :)
I dislike only one thing about your videos. It looks so clear and simple.
Later I'm going to my exercises and it's chaos again.
Sorry about that! I hope one day to publish a book of exercises that can be understood more clearly than the stuff that is found in the typical textbook.
Maybe a guide for teachers 'how to teach MA ABC' ;)
you just saved my life! I don't know why I could not figure this out before
This is the best explanation of weighted average cost I have seen on CZcams. Thank you!
1stambientgrl I'm glad it was helpful! Best wishes :)
Very helpful. I appreciate the strategic use of color, the helpful formatting, and the clear explanations. I found Education Unlocked accounting videos last year in Managerial Accounting and truly appreciate them!
I just took a test on this chapter and boy do I wish I would've seen this video first. It's explained much more thoroughly than how my professor did. Thank you!
I wish knew this channel when I was taking up this subject! Very helpful. What I've pondered and trying to understand for hours was made clear in just a few minutes. Thanks alot, sir!
No problem. Best of luck to you!
You should consider writing a book, you make it look easy. I'm sure your viewers wouldn't mind helping you fund it. I wouldn't! Great job!!!
Thank you! You just saved me! I couldn't get it before, makes so much sense now.
great teacher advised by another great teacher!love you guys!thanks!
Thank You for helping literally millions. - a struggling, broke and thankful college student.
Thank you so much!!! Have been struggling reading the CPA E-book, your explanation really made things clear, thanks again
Very helpful! Thank you for putting your time into making this.
Thanks more for your smooth explanation
This is amazing!! Thank you so much for your videos!!!
Thanks for your clarification on this topic.
This guy should be a teacher if he isn't one already.
great video, very helpful for my online classes
Thank you, your videos help a lot!!
OMGG thank you!! your videos literally saved my grade. Its been so hard keeping up
Happy to help!
Great video! i go to Univesity of Houston, and this video was spot on with what i am trying to learn for my exam. thanks!
thanks that really helped you make it look so simple
No problem!
Hey edspira, I am just wondering -- when calculating equivalent units of production for weighted average, do you add beginning work in process? I keep hearing conflicting things from both my professor and textbook, so I am thoroughly confused now lol.
Great Video It helps me to understand EUP
Thank you Sir for this! God bless you
Excellent way of teaching😊
Thanks Alpna Garg!
really good explanation
This is so helpful thank you
Hey just found this video, great job on it. My prof has nothing on this, thanks a ton for the help!
Happy to help!
Hi @Edspira. What if we have abnormal gain? How do we proceed with the balancing of the physical units and equivalent units? Thanks.
Im not sure youll even answer but what happens if you dont have the started units for materials and conversion? I only have the begging WiP and the ending Wip and therefore cannot calculate the total cots and devide it with the equivalent units to get equivalent units per unit.
would you be able to address a situation in which another department transfers in costs at the beginning of a period?
thanks a lot! this video is very very helpful. I really appreciate. :D
Thank you very much you have no idea how much this helped me 👐👐👐
Thank you!
Great video...had to watch a few times, this is confusing at first, but gets better. lol
Thank you so much
Thank you!! very helpful!
No problem!
thank you for this!!!
No problem 😊
I like your videos, thanks.
Thanks...Best of luck to you!
AMAZINGGGG Sir, Amazzingggg! thank you!
Thank you!
There are some related questions regarding EUP would you help me to explain it ?
Thank you
what if no percentages are assigned to DM and CC?
what if there is no percent? am I going to assume its 50%? transferred out is 2200 and work in process is 800 so total units is 3000 but how do I obtain equivilant units conversion unit.
Good Job. Thank you!
Thanks!
Thanks
It is useful.Thank you so much.
Thanks Findday!
Love your videos, only wish I had found a couple semesters ago. :) I do have a question, what is the name of the program that you use for making these? It's so much better than watching someone stand in front of a white board.
I'm very confused. Why did you change the numbers when you calculated cost per EUP? I thought beginning WIP was 750k?
Hi, could you please make a part 2 of this video where you apply the costs?
Will do! Should have it posted by the end of this summer. I apologize for the delay!
Do you have a video for Total of Units Started and Finished during a Period ? BTW I’m passing because of you ! Thanks !
I don't have a video on this yet, and unfortunately I don't have the time to make more videos until this summer. On my website I have more videos on process costing that may get you the full picture that you're looking for. (All the videos are free, and you don't have to sign-in to view the videos) www.edspira.com/lessons/process-costing I'm thrilled to hear that you are passing your class! Keep up the hard work :)
My friend, may I ask what program your using to display these written videos? I recently purchased a ModBook Pro with digital pen technology ingrained in the software and Im trying to figure out how you are able to write of a black screen with all these different colors. I have Dyslexia, so having a black screen and different color text helps me learn things faster than ever before!
Josh Krier Hello, I use a Wacom Bamboo writing tablet, Camtasia screenrecording software, and SmoothDraw. In SmoothDraw you can paint the screen black and choose different pen colors. SmoothDraw is a free app that can be downloaded online. Camtasia is not free and has to be purchased, and its function is to record what I'm writing in SmoothDraw so I can upload it to CZcams. I hope this helps! Best wishes :)
Thank you for the information! It is well appreciated! Keep up the fantastic educational videos!
How do you find the degree of completion when it's not given? It seems like I can only find examples where it's either given or the number is made up.
Amazing
Thanks!
Equivalent Units because they arent finished yet, but they are still worth something!
Some one plx explain this in detail...i have paper on next monday..
11.11 A company uses process costing to establish the cost per unit of its output.
The following information was available for the last month:
Input units 10,000
Output units 9,850
Opening inventory 300 units, 100% complete for materials and
70% complete for conversion costs
Closing inventory 450 units, 100% complete for materials and
30% complete for conversion costs
The company uses the weighted average method of valuing inventory.
What were the equivalent units for conversion costs?
damn i wish i didn't find this channel a few hours before my exam... wish i couldve studied from you!
Maybe next exam. Best of luck to you!
my man
Hello! There are 5 steps to do this you have only done 2 steps where are the rest?
thank you from 2024
Du bist lustig. Danke
I understand this less after having watched this video
You lost me at 4:47; can't see where the 50% hit on DM comes from. Well maybe not. Given 25% consumption of DL and MOH and a given total EndWip value; the $$ transferred out * DL%complete = X1; and $$ transferred out * MOH%complete = X2; then value for DM=X3=$$ transferred out - (X1+X2). So the $$ for X3 is a force number based on the values for X1 and X2. At least that's how I did it. ...So when the boss walks up and says "what's our cost per unit so far?" we tell him we have $9.02 for each unit total; which is sum of DM+DL+MOH = 3.96+1.69+3.37=$9.02
suggest : change the background to white. eyes feel tired for the black.
I did not understand this at all, was not able to follow you.
wow