Asked by Petronel Ntimane on Apr 29, 2024
Verified
Which of the following is not a necessary step in preparing a production cost report?
A) Compute the equivalent units of production.
B) Compute the physical unit flow.
C) Prepare the job order cost sheet.
D) Prepare a cost reconciliation schedule.
Equivalent Units
In cost accounting, equivalent units are used in process costing to represent the portion of work done on incomplete units within an accounting period as though they were complete.
Production Cost Report
A document that details the total cost and production information for a specific period, showing material, labor, and overhead expenses.
Job Order Cost Sheet
A document that records and tracks the materials, labor, and overhead costs incurred for a specific job or order.
- Comprehend the influence of material and conversion expenses on the equivalent production units.
Verified Answer
Learning Objectives
- Comprehend the influence of material and conversion expenses on the equivalent production units.
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