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Equivalent Unit
A measure used in process costing that converts the work done on partial units of output into the amount of fully completed units.
Processing Department
A division within a manufacturing operation that is responsible for a specific set of tasks or processes aimed at transforming raw materials into finished products.
Materials
The raw substances or components used in the manufacturing process to create a finished product.
Equivalent Units
A concept in cost accounting used to allocate costs to units of production when a process involves partial completion of units at the end of an accounting period.
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