A report prepared by a processing department for equivalent units of production, production costs, and the assignment of those costs to the completed and in process units is called a(n):
A)organizational report.
B)sales revenue report.
C)job costing report.
D)production cost report.

Question

Quizplus · Accepted Answer

The report described in the question is known as a production cost report. This report is used by the processing department to track the units of production and to assign the cost of producing each unit. This information is then used by the company to determine the cost of goods sold and to make decisions about pricing and profitability. Options A, B, and C do not accurately describe the report in question.

A Report Prepared by a Processing Department for Equivalent Units