What is the second step of process costing?
A)Summarize the flow of physical units of output.
B)Compute output in terms of equivalent units.
C)Summarize total costs to account for.
D)Compute cost per equivalent unit.
E)Assign total costs to units completed and to units in ending work in progress.

Question

Quizplus · Accepted Answer

The second step of process costing is to compute output in terms of equivalent units. This step takes into account the fact that some units may still be in process at the end of the period and need to be accounted for.

What Is the Second Step of Process Costing