by Catherine Lofland
Award Nominee
Goods are typically transferred through many different processes before being becoming finished goods. In a process costing system, the units in ending work in process inventory are obviously not complete, and the units that were in beginning work in process inventory only needed a certain amount of productive effort before they were finished. To account for these units, we need to find “equivalent units of production,” which are essentially the total number of complete units that could have been manufactured given the amount of productive effort expended during the period. In this podcast I will walk you through the computation of equivalent units of production using both the FIFO and Weighted Average methods.
3.5 out of 4 stars
I thought that Catherine’s podcast was done very well. Obviously, this is not the most interesting topic, but she did a good job presenting it in a manner that engaged the viewer. I also enjoyed the pictures and work problems she presented throughout her podcast. I felt that Catherine did a good job presented each new topic by using an introduction slide, making it easier for the viewer to always follow what she was talking about. Catherine did a good job speaking and presented her podcast professionally.
“3 stars”
Catherine Lofland’s comprehensive study of Process Costing was presented in a professional and concise fashion. I especially liked the way she walks her listeners through an entire problem dealing with calculations relating to equivalent units of production (EUP). This illustration gives a step by step demonstration of computing the EUP using two different methods: FIFO and Weighted Average, and thus makes it simpler to grasp the topic of discussion. The background music added to the effectiveness of the podcast without taking away from her successful rendering of information. Even though Miss Lofland’s audio was clear, I would have enjoyed this presentation all the more had her voice been further modulated. The podcast was very well structured but would have been even more effectual from an animated tone. Overall, in my opinion, Miss Catherine’s podcast was highly informative and carefully planned out.