Cost Per Equivalent Unit-- FIFO Method vs. Weighted-average Method

[@tenatra]

Imagine, finding this free video that covered this better than my expensive CPA prep. Thank you.

[@mossh4888]

This guy does such a great job explaining things unlike my professor who makes no sense when she talks in class. I learned more in this eight minute video that my professors full two hour class.

[@Edspira]

+Masood H Thank you for the kind words, and for making me laugh! Have a great winter break :)

[@RobinsBusyWorld]

+Masood H Truth.

[@oneatatimemrchow]

totally agree

[@thekid4192]

Welcome to the Future of Education, If it werent for the Hella Good Time I had at school, from an educational stand point I feel ripped off! When will indepth individual study actually count for something is the real question... Ill get back to you on that :)

[@TheDachewsky]

Indeed

[@bushraalamri2137]

You’re so amazing at explaining! My teacher makes everything so complicated and doesn’t know how to deliver the ideas! I honestly don’t get anything she says in the class, but I was the only one who got full mark and that was because of your videos. Even my teacher asked me how I got it so I told her about your videos and she seemed a bit offended lol! Can’t thank you enough! Much love & respect from Saudi Arabia.

[@evilminionnumber2]

You have no idea how much of a life saver your videos are. I tend to struggle with the way certain popular textbook companies presents their material, and you make it so much easier to understand.

[@heidilee236]

i have been raking my brain for 2+ hours over this topic, referencing all my course materials and was still confused. This video just made it all make sense!

[@menachem711]

This video is unbelievable. Becker should take note! Spent 12 hrs breaking my head over FIFO vs. Weighted Avg. for the cost accounting section in BEC, only for this guy to clear things up 3 min in to watching his video. Lol Legend.

[@henryhoch8252]

This was huge for my CPA prep. Thank you!

[@Edspira]

Nice! I hope you pass all 4 parts of the exam on the first try!!

[@aishamemon331]

Learnt alot

[@najlaatello2616]

I've been study AAT with many colleges, NONE helped me as you do. Therefore I wanna thank you so much for all the support I get from you. I consider myself so lucky that I found your channel. wish you all the success and happiness in your life.

[@Edspira]

Thank you for the kind words!

[@sandeepaditya7918]

you have all of my CMA syllabus covered , thanks a lot sir

[@manoshbiswas2605]

This is one of the best professor's I heard for a long time. This helped me a lot for my cost final exam. Thankyou.

[@Edspira]

Great. I'm glad to hear this. Best of luck to you on your final exam!

[@susanroseseymour9270]

I love your teaching, it is so much easier to follow than the exam book examples for me. Thank you! Your work in showing and talking me through, is making all the difference for me.

[@Edspira]

That's great to hear. I'm glad you're doing well!

[@hafizfidarasool4022]

The best explanation of equivalent unit. Thanks bro..

[@Edspira]

No problem my friend! Love and respect to you as well :)

[@user-nr5bf4em4i]

you are the best teacher in the world

[@balindadrouin-holyk3552]

Way better explanation than my textbook or online module! Thank you!!!!

[@Edspira]

Glad you liked it!

[@bba4769]

this is the future of education

[@katherinew4850]

Amazing! I have to say that you are much more helpful than our professor!

[@huihao8058]

Thank you so much! I was so confused with those two methods. Now everything is crystal clear. Thank you thank you thank you!

[@GRACIELOU21]

Thank you for the refresher on this topic! It was definitely easier to understand with this versus my BEC review.

[@iheartsasuke9]

You helped me ace my cost accounting subject i am eternally grateful

[@dawatshering1803]

Perfectly explained. Good stuff. Thanks author

[@mariafrye5571]

Sending hugs your way! Thank you for posting your video's. They have made all the difference for me.

[@Edspira]

I love hearing comments like this because they keep me motivated to put out more content. Thanks Maria!

[@laurenjotch5564]

I wish you could be my professor in Cost!!! I'm struggling right now but your videos have helped me so much. Thank you Edspira :-)

[@LalitPatilcasper]

To the point explanation! Thank you so much for uploading such content.

[@Edspira]

Happy to help!

[@omarabuareesh3970]

i have a quastion : the 8500 mats and 8000 conversion in weigt avarege method for bigining w-i-p from the quastion or did you calculate it

[@pesfan5320]

This is so good I swear,I so much understand now,thank you

[@hahahahahahahaha]

the guy in the wiley BEC study video said fuck it i aint teaching this shit just look at the notes lmfao. and im glad i ended up here. thanks. huge help

[@vincentcarter2990]

very good sir! very well done 👍

[@ilyasariffin9181]

This type of explanation is what i looking for 😂👌🚺😍

[@jemma6287]

Really like his teaching video! easy understanding!

[@saranyasubathas6015]

Sir, I have a test tomorrow on equivalent units. You just saved me! I hope, I do well.

[@Edspira]

Great. Best of luck on your exam!

[@saranyasubathas6015]

Thank you,Sir!

[@Mist_R]

this answers a lot of my questions, holy crap.

[@manzarsaqlain4842]

Thank you very much sir, you made it alot easier to understand.

[@juljk8397]

This guy is better than my real life teacher

[@lankanvino]

Thanks for the help!...also, your voice sounds identical to chef John from Food Wishes on youtube.

[@karaboanswer9518]

So when calculating the WIP at the end we use the percentage as it is, we don't subtract it from a 100 just like what we did at the beginning?

[@yessicaashurst]

Thanks for the great explanation. In the video about the FIFO method you also explained how to apply costs to transferred goods and EWIP, but I unfortunately you didn’t do that here for the weighted average. Is there a video that’s already posted that explains how to apply the costs? Thanks!

[@bmm3182]

Am also wondering the same thing

[@hnt7961]

Why the Beg.WIP costs are the same between FIFO and Weighted Average please? Thank you.

[@abdulazizrajab1095]

thank you so much for your videos. I wonder how you get Beg. WIP of 8500 for mats. and 8000 for conversion.

[@irrahsolis2512]

+Abdulaziz Rajab Just a given for example

[@vahntreorrproduction5421]

+Irrah Solis Thanks! I was looking for this...

[@rolandorivera5239]

Irrah Solis so the transferred out cost would included beg wip costs?

[@daday9760]

@@irrahsolis2512 thanks!

[@bmm3182]

Thank you so much for this video... However, i was wondering if there's an extra video as a follow up to this one to explain how to apply costs using the weighted average method?

[@Edspira]

I have a whole series on inventory. You can watch the sequence here: www.edspira.com/index-financial-accounting/

[@bmm3182]

@@Edspira thank you so much... you're lessons are easy to understand and quite helpful for CPA study... Keep at it..

[@timhuman1238]

Is the value of closing WIP going to be the cost per equivalent unit multiplied by the closing number of units in each process at year end or multiplied by the percentage of completed units at year end (ie: the number we used in the EU calc)?

[@CHIMPENDO]

For an weighted-average problem in my book the answer says that Work In Progress (opening) has to be deducted from the total accounted for, but it doesn't show that in this video so I'm confused.

[@NYC1025]

Thank you! This was SO helpful.

[@nich820]

Big help, thank you!

[@barhamkhalid8564]

It was great. Thank you.

[@Edspira]

Glad you enjoyed it!

[@michalkanczuga4777]

so helpful, appreciate the videos

[@taylorthuet6404]

AMAZING! Thank you so much

[@luiscylulegisniana4545]

How about the Spoilage?

[@rob8482]

Great job.Made it easy, somehow.

[@beautythebrain960]

Omg thank you so much for this...so helpful

[@CornelFraserR]

This was so helpful.

[@thecoolestshoop2494]

could you do an extension of FIFO AND WA COST PER EUP calculation with Discrete and Continuous Normal and abnormal loss?

[@彭凡麒]

what happen to the ending inventory cost for weighted average method...

[@PantsOrPijamas]

That was great! Thank you :)

[@itsSeabass]

Why do you use 35% to calculate DM EUs? Isn't DM always considered 100% complete since the cost of material has already been incurred?

[@itsSeabass]

*65%

[@thecoolestshoop2494]

well that's if you assume that all materials are added at the beginning of the period, usually that is to be assumed if the problem is silent. In this case however he stated that DM is only 35% complete so he uses 35%

[@thekid4192]

He actually used 65% for the FIFO method because that is what you is TO BE (or 35% not TO BE (Already Completed))

[@meierjoe]

Why you take the incomplete percent with the beginning WIP and at the ending WIP the complete percentage? Because FIFO wants to account only cost for this period or why?

[@meierjoe]

+kalle jack @2:57 it gets explained . Great Video

[@Anna-nr2bd]

Thank you!

[@husananaznin4593]

Thank you soooooo muchhhhh

[@Edspira]

😀

[@yoshinegus4019]

WE DONT WANT WHATS HAPPENING LAST PERIOD TO AFFECT THIS PERIOD!

[@ДимитърХаджиев-р3р]

Thank you sir !!!!

[@Edspira]

No problem!

[@ndatoolombakambonde1078]

I'm very appreciate to your tutoring thanks 100% keep with more all the best in your future

[@dave776332]

YOU ARE A GOD!! YOU HAVE MY SUBSCROPTION :)

[@MrUni88]

thank u :)

[@davidvictor6464]

super

[@camsuuu]

u sooooooo amazing ❤

[@Wallstreetkillermo]

who else is here from prof tony bell?

[@Alice-gl6um]

I love you! omg I love you!

[@Alice-gl6um]

I am trying to cram all these things by today lol and your videos helped me a lot! I don't wanna revise wht I've learned in my uni! your video was short, brief but straight to the point!!!!

[@sunkanmibero]

GOD