Which Two Methods Determine the Equivalent Units of Production in Process

question 44

Multiple Choice

Which two methods determine the equivalent units of production in process costing?

• A)weighted average and FIFO
• B)FIFO and LIFO
• C)actual costing and LIFO
• D)weighted average and actual costing

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Definitions:

Units

Individual components or quantities considered as part of a whole, often used in the context of production or sales.

Dollars of Sales

Refers to the total value, in dollars, of all sales transactions completed over a specific period.

Scatter Diagrams

Graphical representations used to show the relationship between two variables, depicting points on a Cartesian plane.

Volume (Units)

The number of units of product produced, sold, or used.