Click to watch the Tell Me More Learning Objective 2 video and then answer the questions below.
1. The first step in preparing a cost of production report is to _____.
- compute equivalent units of production
- determine the units to be assigned costs
- determine the cost per equivalent unit
- allocate costs to units transferred out and partially completed units
2. The last step in preparing a cost of production report is to _____.
- compute equivalent units of production
- determine the units to be assigned costs
- determine the cost per equivalent unit
- allocate costs to units transferred out and partially completed units