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1 . What are the four steps of producing a cost of production report? Please also explain why this report matters. 2 . What does

1. What are the four steps of producing a cost of production report? Please also explain why this report matters.
2. What does equivalent units of production (EUP) mean, and why is it necessary for it to be correct?
3. Why is lean manufacturing meant to cut out all waste of cost in manufacturing?

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