Loading...

Messages

Proposals

Guarantee Your Academic Success!

Prices starting from $3 per page for your Homework Writing Help.

Majorly clients served from Top Universities for the month of January 2021

Served 7352 different student from America, Australia, Canada, United Kingdom, Saudia and UAE Universities. Chat free with our 1500+ writers to ask anything about your homework.

Homework Question!

a production cost report

Open Homework Posted by: saad24vbs Posted on: 09/01/2021 Deadline: 7 Days

14 writers want to do this homework:

Top Essay Writer
George J.
Helping Hand
Homework Mentor
Homework Guru
Instant Assignments
Financial Hub
Quick Mentor
Quick Assigments
Smart Accountants
A Grade Exams
Accounting Homework Help
Peter O.
Olivia H.

Production Costs 1

Production Costs

April 10, 2017

Accounting 561

Monique Smalling

Introduction

  For this week’s assignment, the following scenario will be addressed. “Davis Skaros has recently been promoted to production manager. He has just started to receive various managerial reports, including the production cost report you prepared. It showed his department had 2,000 equivalent units in ending inventory. His department has had a history of not keeping enough inventory on hand to meet demand. He has come to you, very angry, and wants to know why you credited him with only 2,000 units when he knows he had at least twice that many on hand.” The following paper includes a memo to Mr. Skaors that explains why the production cost report showed 2,000 units of inventory and why this was not done in error. This case study also focuses on determining equivalent units in a production unit setting.

Memo

I would first like to thank you for your concern in regards to the 2,000 equivalent units in ending inventory. It is very understandable with the history of your department that someone in your position would make sure that all inventory and production is accurate. I can also assure you that there has been no error on the cost report that was provided to you. I first would like to bring your attention to what is meant by equivalent units of production. “An equivalent unit of production is an indication of the amount of work done by manufacturers who have partially completed units on hand at the end of an accounting period. ( Rehman )” This basically means that not all ending units are completed but all units, both partially completed and fully completed, are included in the equivalent units. For instance, let’s say the department began with no units in inventory and it started and completed 10,000 units. It also started an additional 1,000 units that were 20% complete. The equivalent units of production that will be reported is 10,200. This includes the 10,000 completed units plus 20% of the partially completed 1,000 units. This may seem confusing at first but it gives us an idea of how much work is completed at the end of the marking period. Even if this work is only partially completed. The production cost report you received that showed the 2,000 units included partially completed units and fully completed units. The second aspect that you must take into consideration is how the production cost report is completed. The production cost report summarizes the production and cost activity within a department for a reporting period. It is a formal summary of the four steps performed to assign costs to units transferred out and units in ending work-in-process (WIP) inventory. (Kimmel, 2016) To prepare a production cost report, there are four steps that must be taken. Step one is to compute the physical unit flow. Step two is to compute the equivalent units of production. Step three is to compute unit production costs. The fourth and last step is to prepare a cost reconciliation schedule. Production cost reports provide a groundwork for analyzing the productivity of a department. Managers can use the cost data to assess whether unit costs and total costs are reasonable. By comparing the quantity and cost data with predetermined goals, top management can also judge whether current performance is meeting planned objectives. In other words, this allows us to see if our company is performing as expected.

Conclusion

In conclusion, the production cost report was completed accuarately. There was simply a misunderstanding in how the equivalent units were determined. As mentioned previously, an equivalent unit of production is simply an indication of the amount of work done by manufacturers at the end of a marking period. Mr. Skaros, you can rest assure that the 2,000 equivalent units shown on the cost report represent all units completed as well as those units that were partially completed. If there are any more concerns, please do not hesitate to let me know.

References

What is an equivalent unit of production? | AccountingCoach. (n.d.). Retrieved April, 2017, from https://www.accountingcoach.com/blog/what-is-an-equivalent-unit-of-production

Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2016). Accounting: Tools for business decision making (6th ed.). Hoboken, New Jersey: John Wiley & Sons, Inc.

Rehman, A. (n.d.). Cost of Production Report (CPR). Retrieved April, 2017, from http://www.accountingdetails.com/cost_of_production_report.htm

Our Top Online Writers.

Discuss your homework for free! Start chat

Engineering Guru

ONLINE

Engineering Guru

United Kingdom

I have a Bachelor Degree in Computer Science with 4 years as a mathematics teacher, …

Fardeen W.

ONLINE

Fardeen W.

India

I am an ACCA UK, ICAEW finalist and masters in economics and finance from a …

Engineering Star

ONLINE

Engineering Star

Kenya

I'm an Engineering Consultant & Tutor in Electrical Engineering, Structural Analysis and Designing. I am …

Order Your Homework

Guarantee your academic success!

Order Your Homework Today For Just $3 Per Page!

14 writers want to do this homework:


Top Essay Writer

ONLINE

Top Essay Writer

United States of America

I have more than 12 years of experience in managing online classes, exams, and quizzes on different websites like; Connect, McGraw-Hill, and Blackboard. I always provide a guarantee to my clients for their grades.

Offer: $105

George J.

ONLINE

George J.

United States of America

Hi dear, I am ready to do your homework in a reasonable price.

Offer: $102

Helping Hand

ONLINE

Helping Hand

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

Offer: $100

Get Rewriting & Paraphrasing Help!

We have more than 1500 academic writers and we promise 0% plagiarism in your paper.

Homework Mentor

ONLINE

Homework Mentor

Pakistan

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

Offer: $100

Homework Guru

ONLINE

Homework Guru

India

Hi dear, I am ready to do your homework in a reasonable price and in a timely manner.

Offer: $102

Instant Assignments

ONLINE

Instant Assignments

Pakistan

Good day dear client, I am a full-time freelance writer with years of experience. My strongest strengths are strong dedication to duty, reliability, quality and excellence. I am going to do an outstanding job for you, kindly PM me and let us commence. Thank you so much in anticipation of your positive response. Thank you very much.

Offer: $95

Get Custom homework writing help and achieve A+ grades!

Custom writing help for your homework, Academic Paper and Assignments from Academic writers all over the world at Tutorsonspot round the clock.

Prices As Low As 3$ Per Page!

Our promises:

  • Custom homework writing help
  • Plagiarism Free Solutions Guaranteed!
  • A+ Grade Guaranteed!
  • Privacy guaranteed!
  • Best prices guaranteed!
  • Timely delivery guaranteed!
  • Hundreds of Qualified Writers 24/7
Financial Hub

ONLINE

Financial Hub

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

Offer: $95

Quick Mentor

ONLINE

Quick Mentor

United States of America

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

Offer: $95

Quick Assigments

ONLINE

Quick Assigments

Australia

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

Offer: $95

Get Rewriting & Paraphrasing Help!

We have more than 1500 academic writers and we promise 0% plagiarism in your paper.

Smart Accountants

ONLINE

Smart Accountants

India

I feel, I am the best option for you to fulfill this project with 100% perfection. I am working in this industry since 2014 and I have served more than 1200 clients with a full amount of satisfaction.

Offer: $95

A Grade Exams

ONLINE

A Grade Exams

India

Hi, I have read the instructions carefully and I clearly understand what is required of the project. I always make sure I proofread and edit papers well to ensure they are free of typos, plagiarism, and grammar mistakes. Hire me for a timely delivery of a quality content.

Offer: $95

Accounting Homework Help

ONLINE

Accounting Homework Help

Bangladesh

I can help you with your homework & assignments to get A grade. I have helped several students multiple fields such as marketing, SWOT, PESTEL, Finance, Law, Sociology and Psychology. I know how to structure and format content with different writing styles such as MLA, APA, & Harvard. Please try me once at least. You will be satisfied.

Offer: $95

Get Custom homework writing help and achieve A+ grades!

Custom writing help for your homework, Academic Paper and Assignments from Academic writers all over the world at Tutorsonspot round the clock.

Prices As Low As 3$ Per Page!

Our promises:

  • Custom homework writing help
  • Plagiarism Free Solutions Guaranteed!
  • A+ Grade Guaranteed!
  • Privacy guaranteed!
  • Best prices guaranteed!
  • Timely delivery guaranteed!
  • Hundreds of Qualified Writers 24/7
Peter O.

ONLINE

Peter O.

Australia

Hello, I can assist you in writing attractive and compelling content on ganja and its movement globally. I will provide with valuable, informative content that you will appreciate. The content will surely hit your target audience. I will provide you with the work that will be according to the needs of the targeted audience and Google’s requirement.

Offer: $95

Olivia H.

ONLINE

Olivia H.

United Kingdom

Greetings! I’m very much interested to work on this project. I have read the details properly. I am a Professional Writer with over 5 years of experience, therefore, I can easily do this job. I will also provide you with TURNITIN PLAGIARISM REPORT. You can message me to discuss the detail. Why me? My goal is to offer services to you that are profitable. I don’t want you to place an order once and that’s it. For me to be successful, I need you to come back and order again. Give me the opportunity to work on your project. I wish to build a long-term relationship with you. We can have further discussion in chat. Thanks!

Offer: $95

Ready To Place An Order? Its Free!

Homework Questions in Accounting & Finance


how do you calculate plant utilization in capsim


hardness of water experiment lab report


pan's labyrinth mla citation


anil shinghal death dallas tx


1n4001 diode saturation current


macrosystem level transition of care


interpersonal communication project hsco 508


advantages of multi step pathway in signal transduction


smart bubble tea cooker


asci 490 capstone project


compare the four categories of ebusiness models


chotukool case study


absolute and relative change


978 1284123890


nojax


java fundamentals a comprehensive introduction by herbert schildt pdf download


all shook up how rock n roll changed america essay


positive interdependence and knowledge sharing articles


psy 405 week 2 psychodynamic theory presentation


lrps wgu edu provision courses


elizabethan poetry essay


bottling industry five forces analysis


fad diet assignment


the controlling function helps managers protect an organization's


cipani functional behavior assessment pdf


what is the staffing policy that lenovo is pursuing


gastritis mind map


shadow health focused exam chest pain brian foster


minnesota micromotors


p10 1a accounting answers


specialized fields in physical science


dominos email unsubscribe


cultural intelligence the essential intelligence for the 21st century


sample well woman soap note


firac format


umuc webtext


relationships between web analytics text mining and sentiment analysis


case project 5 1


pi in various ancient civilizations


a classic experiment by psychologist george sperling demonstrated that


disney theme park case study


kathryn e barnard theory


hp envy 750qd desktop pc


gcu statement of faith


a race car driver must average


2000 divided by 1


it planning at modmeters case study


capital budgeting excel assignment


match each description with a document in a voucher system


resolving ethical business challenges