When Calculating the Cost Per Equivalent Unit in Process Costing,what

question 27

Multiple Choice

When calculating the cost per equivalent unit in process costing,what is the difference between the weighted-average and FIFO methods?

• A) With FIFO, prior period costs are not combined with current period costs.
• B) With FIFO, prior period costs are combined with current period costs.
• C) With weighted-average, prior period costs are not combined with current period costs.
• D) There is no difference between the two methods.

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Definitions:

Freud

Sigmund Freud, an Austrian neurologist who is known for founding psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Piaget

A Swiss psychologist known for his pioneering work in child development and his theory of cognitive development stages.

Vygotsky

A Russian psychologist, Lev Vygotsky, known for his work on the social development theory which emphasizes the fundamental role of social interaction in the development of cognition.

Knowledge Construction

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