In which measure is equivalent production expressed to describe all activity of the period?
A) fully completed units
B) partially completed units
C) Work-in-Process Inventory
D) materials, labour and overhead

Question

Quizplus · Accepted Answer

Equivalent production is the measure of the amount of production completed during a period, including both fully and partially completed units. It measures the total output of a production process and is expressed in terms of fully completed units. Work-in-Process Inventory and materials, labour and overhead are important cost elements in the production process but do not measure the equivalent production.

In Which Measure Is Equivalent Production Expressed to Describe All