Asked by Y. M. Hylton on May 27, 2024
Verified
Equivalent units of production are the number of units that could have been manufactured from start to finish during an accounting period.
Equivalent Units
A concept used in cost accounting to convert partially completed goods into the equivalent number of fully completed units.
Production
The process of creating goods and services.
Accounting Period
A specific time frame for which financial accounting records are kept, closing with a balance sheet.
- Master the concept and arithmetic of equivalent units in manufacturing.
Verified Answer
SM
Stasio MihalisMay 27, 2024
Final Answer :
True
Explanation :
This is the definition of equivalent units of production.
Learning Objectives
- Master the concept and arithmetic of equivalent units in manufacturing.
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