Direct labor cost plus manufacturing overhead cost.

The product of the # of partially completed units and their % of completion with respect to a particular cost. ___ are the # of complete whole units that could be obtained from the materials and effort contained in partially completed units

A process costing method that calculates unit costs by combining costs and outputs from the current and prior periods.

An organizational unit where work is performed on a product and where materials, labor, or overhead costs are added to the product.

A costing method used when homogeneous products are produced on a continuous basis.

The units transferred to the next department (or to finished goods) during the period plus the equivalent units in the department’s ending work in process inventory.

A hybrid costing system used when products have some common characteristics and some individual characteristics.

A process costing method that calculates unit costs based solely on the costs and outputs from the current period.