In a given process costing system,the equivalent units of production are computed using the average cost method.The percentage of completion for the current period only is included in the calculation of the:
A)No No
B)No Yes
C)Yes No
D)Yes Yes

Question

In a given process costing system,the equivalent units of production are computed using the average cost method.The percentage of completion for the current period only is included in the calculation of the: 
A)No No 
B)No Yes 
C)Yes No 
D)Yes Yes

Quizplus · Accepted Answer

The average cost method only includes the percentage of completion for the current period in the calculation of equivalent units of production, so the answer is Yes for calculating the equivalent units of production for the current period only and No for calculating the equivalent units of production for previous periods.

In a Given Process Costing System,the Equivalent Units of Production