Operating personnel must be able to estimate the percentage of work-in-process completed in process costing.

Question

Quizplus · Accepted Answer

Operating personnel must have the ability to estimate the percentage of work-in-process completed in process costing in order to determine the total cost of production and calculate the cost per unit. This estimation is necessary to determine the degree of completion of products and the amount of cost to be assigned to the products in process.

Operating Personnel Must Be Able to Estimate the Percentage of Work-In-Process