Which two methods determine the equivalent units of production in process costing?
A) actual costing and LIFO costing method
B) FIFO costing method and LIFO costing method
C) weighted average costing method and FIFO costing method
D) weighted average costing method and actual costing

Question

Quizplus · Accepted Answer

The two methods that determine the equivalent units of production in process costing are the weighted average costing method and the FIFO costing method. Actual costing and LIFO costing are not methods used to determine equivalent units of production in process costing.

Which Two Methods Determine the Equivalent Units of Production in Process