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)Determine over or underapplied overhead.
B)Determine the physical flow of units.
C)Compute the equivalent units of production.
D)Compute the cost per equivalent unit of production.
E)Assign and reconcile costs.

Question

Quizplus · Accepted Answer

Determining over or underapplied overhead is not one of the four steps in accounting for production activity and assigning costs during a period under a process cost system. The four steps are determining the physical flow of units, computing the equivalent units of production, computing the cost per equivalent unit of production, and assigning and reconciling costs.

Which of the Following Is Not One of the Four