Final answer:
The correct formula for calculating completed units less opening WIP equivalent units is (Units started and completed + Units in ending work in progress) - (Units in beginning work in progress), which is Option A.
Step-by-step explanation:
The correct formula for calculating the completed units less opening work in progress (WIP) equivalent units is Option A: (Units started and completed + Units in ending work in progress) - (Units in beginning work in progress). This equation is used in process costing systems to ascertain the number of completed units after considering the units that were in progress at the beginning of the period as well as additional work done during the period. Essentially, it involves the addition of the units completed during the period to those remaining in work in progress at the end, and from this total, the beginning work in progress units are subtracted to arrive at the completed units.
SUMUP of the final answer:
- Correct formula: Option A
- Add units started and completed to the units in ending work in progress
- Subtract the units in beginning work in progress from the sum