Which of the following is the last step of the 5-step process costing procedure?
A)Summarize total costs to account for
B)Assign total costs to units completed and to units in ending WIP Inventory
C)Compute the cost per equivalent unit
D)Summarize the flow of physical units

Question

Quizplus · Accepted Answer

The last step of the 5-step process costing procedure is to assign total costs to units completed and to units in ending WIP Inventory. This step is necessary to determine the total cost of production and the value of ending inventory.

Which of the Following Is the Last Step of the 5-Step