Learning Objective 03-P2: Prepare a production cost report using weighted average. The production cost report, or process cost summary, summarizes the four-step process.

 Learning Objective 03-P2: Prepare a production cost report using weighted average.

The production cost report, or process cost summary, summarizes the four-step process.

Knowledge Check 01

The process cost report summary summarizes:

Explanation

Knowledge Check 01

The process cost report summary summarizes the physical flow of units, equivalent units of production for direct materials and conversion, costs per equivalent unit of production for direct materials and conversion costs, and shows the assignment of total costs among units worked on in the period.