The first step in preparing the production cost report is to
A)account for the number of physical units.
B)calculate the cost per equivalent unit.
C)assign costs to the items completed.
D)determine the cost per equivalent unit.

Question

Quizplus · Accepted Answer

The first step in preparing the production cost report is to account for the number of physical units produced during the accounting period. This is necessary in order to determine the quantity of units on which costs have been incurred and to calculate the cost per unit.

The First Step in Preparing the Production Cost Report Is