Which one of the following is not a necessary step in preparing a production cost report?
A)Prepare the job-order cost sheet.
B)Calculate the physical unit flow.
C)Calculate the equivalent units of production.
D)Prepare a cost reconciliation schedule.

Question

Quizplus · Accepted Answer

While preparing a job-order cost sheet is an important step in tracking the costs of a specific job, it is not necessary for preparing a production cost report, which is used to track the costs of producing a larger quantity of a product over a period of time. The necessary steps for preparing a production cost report include calculating the physical unit flow, calculating the equivalent units of production, and preparing a cost reconciliation schedule.

Which One of the Following Is Not a Necessary Step