Which of the following is NOT one of the procedures in process costing?
A)summarize the flow of physical units of output
B)assign costs to equivalent units based on their percentage of completion
C)compute equivalent unit costs
D)summarize total costs to account for
E)assign costs to completed units

Question

Quizplus · Accepted Answer

Assigning costs to equivalent units based on their percentage of completion is a procedure in process costing. The correct procedures in process costing are:

1. Summarize the flow of physical units of output
2. Compute equivalent unit costs
3. Assign costs to completed units
4. Assign costs to units in ending work-in-process inventory
5. Summarize total costs to account for

Which of the Following Is NOT One of the Procedures