Which of the Following Is the Third Step of the 5-Step

question 186

Multiple Choice

Which of the following is the third step of the 5-step process costing procedure?

• A)Compute output in terms of equivalent units
• B)Summarize total costs to account for
• C)Summarize the flow of physical units
• D)Compute the cost per equivalent unit

---

Definitions:

Egocentrism

A cognitive trait where an individual is unable to understand that other people’s perspectives and views can be different from their own.

Inch

A unit of length in the imperial and United States customary systems, equal to 1/12 of a foot or 2.54 centimeters.

Formal-Operations

The final stage in Piaget's theory of cognitive development, where individuals develop the ability to think abstractly, logically, and systematically.

Abstract Terms

Words that represent ideas or concepts rather than physical objects or qualities, which are not directly perceivable.