Which of the following is not one of the four steps in accounting for production activity and assigning costs during a period under a process cost system?
A) Assign and reconcile costs.
B) Determine the physical flow of units.
C) Compute the cost per equivalent unit of production.
D) Determine over or underapplied overhead.
E) Compute the equivalent units of production.

Question

Quizplus · Accepted Answer

The four steps in accounting for production activity and assigning costs during a period under a process cost system are (1) Determine the physical flow of units, (2) Compute the equivalent units of production, (3) Compute the cost per equivalent unit of production, and (4) Assign and reconcile costs. Determining over or underapplied overhead is not one of the four steps.

Which of the Following Is Not One of the Four