Equivalent units of production refer to the number of units that would be completed if all effort during a period had been applied only to those units that were started and completed in a period.

Question

Quizplus · Accepted Answer

This is the correct definition of equivalent units of production. They take into account partially completed units during a period and calculate how many complete units could have been produced if all production efforts were focused only on those units.

Equivalent Units of Production Refer to the Number of Units