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Equivalent Unit
A concept in cost accounting used to compute the cost of partially completed goods, translating them into a number of fully completed units.
Assembly Department
A section of a manufacturing company where components are assembled into final products.
Costs Per Unit
The total expense involved in manufacturing or acquiring a product divided by the number of units.
Step-Down Method
An allocation method used in cost accounting to assign overhead costs to products or departments, incorporating inter-departmental services.
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