Which one of the following is one of the key steps in determining process costs?
A)Assigning the total manufacturing costs to the units completed and transferred out and the units of work in process at the end of the period.
B)Analyzing the physical flow of production units.
C)Computing the cost per equivalent unit for each manufacturing cost element.
D)Calculating equivalent units of production for all manufacturing cost elements.
E)All of the above are correct.

Question

Quizplus · Accepted Answer

All of the given options are key steps in determining process costs. Assigning the total manufacturing costs to the completed and transferred units and the units of work in process, analyzing the physical flow of production units, computing the cost per equivalent unit for each manufacturing cost element, and calculating equivalent units of production for all manufacturing cost elements are all important steps in determining the process cost.

Which One of the Following Is One of the Key