The Five Steps of the Process Costing Procedure Are Scrambled

question 11

Multiple Choice

The five steps of the process costing procedure are scrambled below: 1. Assign total costs to units completed and to units in ending WIP Inventory.
2) Summarize total costs to account for.
3) Compute the cost per equivalent unit.
4) Summarize the flow of physical units.
5) Compute output in terms of equivalent units.
The correct order for these steps is:

• A)3, 1, 4, 2, 5.
• B)5, 3, 1, 4, 2.
• C)2, 4, 5, 1, 3.
• D)4, 5, 2, 3, 1.

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Definitions:

Deoxyhemoglobin

Hemoglobin without oxygen, the form present after oxygen has been released to the tissues.

Buffy Coat

The fraction of an anticoagulated blood sample that is composed of white blood cells and platelets, visible as a thin layer between the red blood cells and plasma in centrifuged blood.

Centrifuge Tube

A laboratory vessel specifically designed to withstand the forces generated during a centrifugation process, used for separating mixtures.

Platelets

Small blood cells involved in clotting, helping prevent bleeding by forming plugs in vessel injuries.