Examlex
In electromagnetic waves, the electric and magnetic fields vibrate to each other.
Equivalent Units of Production
An accounting term used to denote the amount of finished goods produced by a company in a given period, after adjusting for work-in-progress inventory at the beginning and end of that period.
Materials Preparation Department
A division within a company responsible for preparing raw materials for production.
Weighted-Average Method
An inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average of all units available for sale during the period.
Equivalent Units of Production
A concept used in cost accounting to standardize the quantity of output by converting unfinished products into their equivalent of finished goods.
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