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
(c) generic units of a product similar to brand name units of a product.
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?