The Last Step of the 5-Step Process Costing Procedure Is

question 185

Multiple Choice

The last step of the 5-step process costing procedure is

• A) assign total costs to units completed and to units in ending WIP inventory.
• B) summarize total costs to account for.
• C) compute the cost per equivalent unit.
• D) summarize the flow of physical units.

---

Definitions:

Cognitive Affective Complexity

The ability to experience and understand complex emotions simultaneously and the capacity to integrate this emotional awareness into cognitive processes.

Reflective Judgment

The cognitive process involved in critically evaluating the validity of differing viewpoints on complex issues.

Relativistic Thinking

The understanding that knowledge and truth are not absolute but can vary based on context and perspective.

Dualism

The philosophical or theological doctrine that reality consists of two basic opposing elements, often physical and spiritual.