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Identification
-Brahmans
Equivalent Unit Cost
The calculation of the cost assigned to produced units during a specific period, considering both completed and partially completed products.
Process Costing
An accounting methodology used for uniform products, allocating production costs to units of output based on the process they undergo.
Weighted-Average Method
A cost accounting method that calculates the cost per unit of inventory based on the weighted average of the costs of similar items at the beginning of a period and the costs of similar items during the period.
Conversion Costs
The combined costs of direct labor and manufacturing overhead, incurred to convert raw materials into finished goods.