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Managerial Accounting: The Corners...
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Managerial Accounting: The Corners...
What are equivalent units? Why are they needed in a process-costing system?
Explain the term equivalent units and its need in process costing system.
Equivalent Units:
The total units of finished goods along with those goods that are not fully complete are known as equivalent units of production or equivalent units. In other words, equivalent units of production measures both completed and nearly completed units.
Equivalent units are used to calculate the unit cost of process...
Chapter 6 Solutions
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