(Answered) Question 1 equivalent units area a measure of a production

Accounting

Question: 1. Equivalent units are

(a) a measure of a production department's productivity in using direct materials, direct labor, or overhead;

(b) units of a product produced by a foreign competitor that are similar to units produced by a domestic company; or

2. Interpret the meaning of a department's equivalent units with respect to direct labor.

3. A process cost summary for a department has three sections. What information is presented in each of them?

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