{"id":48632,"date":"2024-04-15T22:44:05","date_gmt":"2024-04-15T22:44:05","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=48632"},"modified":"2024-04-15T22:44:05","modified_gmt":"2024-04-15T22:44:05","slug":"when-partially-completed-units-are-converted-to-a-comparable-number-of-completed-units-they-are-referred-to-as","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/when-partially-completed-units-are-converted-to-a-comparable-number-of-completed-units-they-are-referred-to-as\/","title":{"rendered":"When partially completed units are converted to a comparable number of completed units, they are referred to as"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;split-off units&#8221; option2=&#8221;equivalent units&#8221; option3=&#8221;converted units&#8221; option4=&#8221;equitable units&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: B. equivalent units.<\/p>\n<p>Equivalent units are a measure of the work done during a period on all the units that were started and that were either completed or partially completed during the period. They are used to calculate the cost per unit of production.<\/p>\n<p>To calculate equivalent units, we need to know the following:<\/p>\n<ul>\n<li>The number of units started and completed during the period.<\/li>\n<li>The number of units that were started but not completed during the period.<\/li>\n<li>The percentage of completion of the units that were started but not completed.<\/li>\n<\/ul>\n<p>Once we have this information, we can calculate equivalent units as follows:<\/p>\n<ul>\n<li>Units started and completed x 100% = Equivalent units of work done for units started and completed<\/li>\n<li>Units started but not completed x Percentage of completion = Equivalent units of work done for units started but not completed<\/li>\n<\/ul>\n<p>The total equivalent units of work done is the sum of the equivalent units of work done for units started and completed and the equivalent units of work done for units started but not completed.<\/p>\n<p>Equivalent units are used to calculate the cost per unit of production. The cost per unit of production is calculated as follows:<\/p>\n<p>Total cost of production \/ Equivalent units of work done<\/p>\n<p>The cost per unit of production is used to value the units that were completed during the period and the units that were in process at the end of the period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;split-off units&#8221; option2=&#8221;equivalent units&#8221; option3=&#8221;converted units&#8221; option4=&#8221;equitable units&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-48632","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When partially completed units are converted to a comparable number of completed units, they are referred to as<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/when-partially-completed-units-are-converted-to-a-comparable-number-of-completed-units-they-are-referred-to-as\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When partially completed units are converted to a comparable number of completed units, they are referred to as\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;split-off units&#8221; 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