The Premium That Is Refunded to Policyholders of a Participating

question 31

True/False

The premium that is refunded to policyholders of a participating policy is called the policy dividend.

Understand how equivalent units of production are used and calculated in process costing.

Comprehend how costs are accumulated and assigned in a process cost system.

Learn the steps involved in preparing a production cost report and the computation of unit production costs.

Recognize the importance of machine time and labor costs in the costing process of continuous manufacturing operations.