In process costing, ________ is/are found by taking the number of partially completed physical units and multiplying it by the percentage of the process completed.

Question

Quizplus · Accepted Answer

Equivalent units are found by taking the number of partially completed physical units and multiplying it by the percentage of the process completed. This calculation is used in process costing to determine the cost per unit and the value of work in process inventory. Cost of goods sold, fixed manufacturing overhead costs, and conversion costs are all calculated separately in process costing.

In Process Costing, ________ Is/are Found by Taking the Number