An organizational unit where work is performed on a product and where materials, labor, or overhead costs are added to the product
Equivalent Units
The product of the number of partially completed units and their percentage of completion with respect to a particular cost. Equivalent units are the number of complete whole units that could be obtained from the materials and effort contained in partially completed units
Weighted-Average Method
A process costing method that blends together units and costs from both the current and prior periods.
Equivalent units of production
The product of the number of partially completed units and their percentage of completion with respect to a particular cost. Equivalent units are the number of complete whole units that could be obtained from the materials and effort contained in partially completed units