The Four Steps Necessary to Complete a Cost of Production

question 71

Multiple Choice

The four steps necessary to complete a cost of production report in a process cost system are ​
1)
Allocate costs to transferred and partially completed units
2)
Determine the units to be assigned costs
3)
Determine the cost per equivalent unit
4)
Calculate equivalent units of production
​
The correct ordering of the steps is

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

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