Gary is uncertain about the steps used to prepare a production cost report. Describe the procedures that are required, and order them in the sequence in which they are performed. Include what is meant by the term "equivalent units", and how are equivalent units of production computed. Why is such a calculation necessary? Is such a calculation an exact science? Is there potential for income manipulation because of using equivalent units? Gary is also unclear as to why the production cost report is prepared. Explain the purpose of the report. Is the production cost report included in financial statements for external users? If not, who uses this report