A key idea in process costing that refers to the number of units that could have been started and completed given the costs incurred during the period is known as:
A)Manufacturing overhead.
B)Units in process.
C)A job cost sheet.
D)Equivalent units of production.
E)Process cost summary.

Question

Quizplus · Accepted Answer

Equivalent units of production (EUP) is a key idea in process costing that refers to the number of units that could have been started and completed given the costs incurred during the period. It takes into account partially completed units and measures them as a completed whole.

A Key Idea in Process Costing That Refers to the Number