The last step in the four-step accounting procedure for process costing is the calculation of equivalent units of production.

Question

Quizplus · Accepted Answer

The last step in the four-step accounting procedure for process costing is actually the assignment of costs to completed units and units in process, not the calculation of equivalent units of production. The calculation of equivalent units is typically the third step in the process.

The Last Step in the Four-Step Accounting Procedure for Process