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Equivalent Units
A concept used in process costing that converts partially completed units into a number of equivalent full units.
Materials
The raw inputs used in the production of goods, often categorized into direct materials that can be directly traced to the final product and indirect materials used in the production process but not directly identifiable with specific units or batches of production.
Equivalent Units
A concept in cost accounting used to allocate costs to units of production in processes where the units are not yet complete, converting them into the amount of finished goods units.
Assembly Department
A section within a manufacturing process where components are joined together to form a finished product.
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