Which One of the Following Is Not a Necessary Step

question 57

Multiple Choice

Which one of the following is not a necessary step in preparing a production cost report?

• A)Prepare the job-order cost sheet.
• B)Calculate the physical unit flow.
• C)Calculate the equivalent units of production.
• D)Prepare a cost reconciliation schedule.

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Definitions:

Operating Expenses

Expenses incurred in the course of regular business operations, such as wages, rent, and utilities.

Stockholders' Equity

The residual interest in the assets of a corporation that remains after deducting its liabilities, representing the owners' share.

Stock Dividend

A dividend payment made to shareholders in the form of additional shares of the company's stock, rather than cash.

Retained Earnings Statement

A financial report detailing the variations in retained profits over a definite time frame.