Q686
Fifth step in process costing system is to
A.
allocate separable costs
B.
allocate joint costs
C.
compute gross margin
D.
assign total cost to completed units
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Fifth step in process costing system is to assign total cost to completed units. Total cost is an economic measure that sums all expenses paid to produce a product, purchase an investment, or acquire a piece of equipment including not only the initial cash outlay but also the opportunity cost of their choices.