Cost And Management Accountıng Deneme Sınavı Sorusu #1400923

Which of the following is not one of the steps in process costing?


Summarize the flow of physical units of output

Compute output in terms of equivalent units

Summarize the total cost to account for

Assign predicted cost to all units under production 

Compute the cost per equivalent unit


Yanıt Açıklaması:

To calculate the unit cost, there is a five-step procedure of process costing. The steps are as follows:
1. Summarize the flow of physical units of output
2. Compute output in terms of equivalent units
3. Summarize the total cost to account for
4. Compute the cost per equivalent unit
5. Assign total cost to completed units and ending work-in-process inventory

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