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Preparing a Production Cost Report

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is step two of a Production Cost Report?

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1. How do you find how many equivalent units something is?

2. In which step does money first appear in a Production Cost Report?

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About This Quiz & Worksheet

This quiz uses multiple-choice questions to find out if you know the concepts and the steps to take when making a production cost report. The questions will show if you understand the terms used in this type of report.

Quiz & Worksheet Goals

The quiz will test you on such things as:

  • The details of specific steps in the report
  • Calculation of equivalent units
  • Where money first appears

Skills Practiced

The student will test skills, such as:

  • Making connections - use understanding of inventory counts and what is expected
  • Defining key concepts - ensure that you can accurately define main terms, such as units and costs
  • Information recall - access the knowledge you've gained regarding the steps taken to create the production cost report

Additional Learning

See more on this topic by using the lesson called Preparing a Production Cost Report. There, you will learn about:

  • Keeping track of spending and materials
  • Tracking units to account for
  • Comparing expected to actual inventory
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