Exhibit 6-18
-When moving from point a to point b in Exhibit 6-18:
Definitions:
Equivalent Units
A method used in process costing that converts partially completed goods into a number of completed units of output.
Assembly Department
An area in a manufacturing plant where parts are put together to create finished goods.
Conversion Costs
These are the costs required to convert raw materials into finished products, comprising labor and overhead expenses.
Materials Costs
Expenses incurred for materials that are directly associated with manufacturing a product.
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