Which of the following statements referring to a production report is not correct under the weighted-average method? Two different unit cost figures are used to determine the cost of transfers from one department to another, calculated based on the units in beginning and ending work in process. The quantity schedule deals with physical units, not whole units. The equivalent units in the ending work-in-process inventory may be different if direct labour and manufacturing overhead are accounted for individually rather than together as conversion costs. The total " Costs to be accounted for" must equal the total cost of the units completed and transferred out, plus the cost of the ending work-in-process inventory.

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The answer is option iii which is The equivalent units in the ending workinprocess in... View the full answer