Equivalent Units of Production Definition:

The product of the number of partially completed units and their percentage of completion with respect to a particular cost. Equivalent units are the number of complete whole units one could obtain from the materials and effort contained in partially completed units.
Equivalent units of production

Other Related Accounting Articles:

• Equivalent Units of Production
• Cost to Cost Method of Revenue Recognition
• Back flush Accounting
• Work in Process Accounting
• Work-in-Process Definition
• Outsourcing
• Calculating Full Time Equivalent
• Finished Goods Definition
• Job Costing
• Cost Accounting Procedure for Defective Work