The fifth and final step in determining process costs is:
A)Analyzing physical flow of production units.
B)Calculating equivalent units of production.
C)Determining total cost for each manufacturing element.
D)Computing the cost per equivalent unit.
E)Assigning cost to completed and uncompleted production.

Question

Quizplus · Accepted Answer

The fifth and final step in determining process costs is to assign cost to completed and uncompleted production. This involves allocating the total cost of each manufacturing element to the units produced during the period. As a result, choice E is the best answer.

The Fifth and Final Step in Determining Process Costs Is