Which of the following is not 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)Determining the cost pools and cost objects.

Question

Quizplus · Accepted Answer

Determining the cost pools and cost objects is not a key step in determining process costs, as it is typically done prior to the cost accounting process. The other options (A, B, C, and D) are all key steps in determining process costs.

Which of the Following Is Not One of the Key