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Select the incorrect statement regarding equivalent units of production (EUP): Two units 50% complete are equivalent to one unit 100% complete. EUP equals an approximation
Select the incorrect statement regarding equivalent units of production (EUP):
| Two units 50% complete are equivalent to one unit 100% complete. |
| EUP equals an approximation of the number of whole units of output that could have beenproduced during a period from the actual effort expended. |
| EUP computations are only needed when a department has units in beginning inventory. |
| The objective of EUP calculations is to eliminate the costing problem caused by partially completed units. |
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
24th edition
1259916960, 978-1259916960
