{"id":42839,"date":"2024-04-15T21:20:52","date_gmt":"2024-04-15T21:20:52","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=42839"},"modified":"2024-04-15T21:20:52","modified_gmt":"2024-04-15T21:20:52","slug":"fifth-step-in-process-costing-system-is-to","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/fifth-step-in-process-costing-system-is-to\/","title":{"rendered":"Fifth step in process costing system is to"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;allocate separable costs&#8221; option2=&#8221;allocate joint costs&#8221; option3=&#8221;compute gross margin&#8221; option4=&#8221;assign total cost to completed units&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>D. assign total cost to completed units<\/strong><\/p>\n<p>In process costing, the fifth step is to assign total cost to completed units. This is done by multiplying the number of units completed by the average cost per unit. The average cost per unit is calculated by dividing the total cost of the units completed by the number of units completed.<\/p>\n<p>The other options are incorrect because:<\/p>\n<ul>\n<li>Option A is incorrect because separable costs are allocated in the fourth step of process costing.<\/li>\n<li>Option B is incorrect because joint costs are allocated in the third step of process costing.<\/li>\n<li>Option C is incorrect because gross margin is calculated in the sixth step of process costing.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;allocate separable costs&#8221; option2=&#8221;allocate joint costs&#8221; option3=&#8221;compute gross margin&#8221; option4=&#8221;assign total cost to completed units&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-42839","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fifth step in process costing system is to<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/fifth-step-in-process-costing-system-is-to\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fifth step in process costing system is to\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;allocate separable costs&#8221; 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