Question

a production is the statement such the two _are equalent
​

Answer 1

Answer:

This represents the production of a process in terms of completed units. In other words, it means converting the uncompleted production into its equivalent of completed units. The term equivalent unit means a notional quantity of completed units substituted for an actual quantity of incomplete physical units in progress, when the aggregate work content of the incomplete units is deemed to be equivalent to that of the substituted quantity, (e.g. 100 units of 60% completed = 60 completed units).

The principle applies when operation costs are being apportioned between work- in-progress and completed output. Thus in each process an estimate is made of the percentage completion of any work-in-progress. A production schedule and a cost schedule will then be prepared.