Which of the following is not a step of the 5-step process costing procedure?
A)Compute output in terms of equivalent units
B)Summarize total costs to account for
C)Summarize the flow of physical units
D)Compute total manufacturing overhead estimated

Question

Quizplus · Accepted Answer

The 5-step process costing procedure includes the following steps: 1) Summarize the flow of physical units, 2) Compute output in terms of equivalent units, 3) Determine total costs to account for, 4) Compute cost per equivalent unit, and 5) Assign costs to units completed and to units in ending work in process inventory. Computing total manufacturing overhead estimated is not a step in this procedure.

Which of the Following Is Not a Step of the 5-Step