Equivalent Production: Valuation and Procedure | Cost Accounting
In this article we will discuss about:- 1. Meaning of Equivalent Production 2. Valuation of Work-in-Progress 3. Procedure for Accounting of Equivalent Production 4. Methods for the Valuation of Opening Work-in-Progress 5. Adjustment of Treatment of Normal Loss, Abnormal Loss and Abnormal Gain in Computation of Equivalent Production. Meaning of Equivalent Production: In a process industry, production is on a [...]