Equivalent units of production measure the work done during a period expressed in fully completed units.

Name: Equivalent units of production measure the work done during a period expressed in fully completed units.
Brand: Quizplus
Rating: 4.9 (32 reviews)

Question

Quizplus · Accepted Answer

Equivalent units of production are a concept in cost accounting that measure the amount of work done on partially finished goods and express it in terms of fully completed units. This helps in accurately assigning costs to both completed and partially completed goods.

Equivalent Units of Production Measure the Work Done During a Period