•What type of companies use a process costing system?
•If the number of units completed and transferred
is not given, how do you calculate the number of units completed and transferred out?
-What percent of the units transferred out are complete?
•How are equivalent units calculated for the units in ending WIP?
•How are total equivalent units calculated?
•How do you calculate the cost per equivalent unit for each cost category (materials, conversion)?
•How do you calculate the cost of the completed units and the cost of the ending WIP?