MindLuster Logo

Cost Per Equivalent Unit FIFO Method Part 2 Applying Costs

Sign Up and Get Free Certificate
Sign up Now

Lessons List | 10 Lesson

Comments

You must have an account within the platform in order to participate in the discussion and comment. Register now for freeClick here

Our New Certified Courses Will Reach You in Our Telegram Channel
Join Our Telegram Channels to Get Best Free Courses

Join Now

We Appreciate Your Feedback

Excellent
5 Reviews
Good
4 Reviews
medium
2 Reviews
Acceptable
1 Reviews
Not Good
0 Reviews

4.1

12 Reviews


Bhagyalekshmi P B

Good 2023-12-07

Bilby Thomas

Its good for my studies 2023-12-07

Mariyamol John

Gd 2023-12-04

Vish Vone

need more detailed explanation 2023-11-20

Show More Reviews

Course Description

What is meant by process costing? Process costing is a method of costing used mainly in manufacturing where units are continuously mass-produced through one or more processes. ... The method used is to take the total cost of the process and average it over the units of production.What are the steps in process costing? Follow the 5 steps for process costing. Analyze inventory flow. Convert in-process inventory to equivalent units. Compute all applicable costs. Calculate the cost per unit of finished and in-process inventory. Allocate costs to units of finished and in-process inventory. What are the types of process costing? Types of process costing Standard cost. Standard cost refers to calculating costs for production units instead of actual costs. ... Weighted average. ... First-in, first-out. ... Analyze the inventory. ... Convert inventory costs. ... Calculate applicable costs. ... Calculate the cost per unit. ... Designate costs for complete and incomplete products.