C5 : PROCESS COSTING

C5 : PROCESS COSTING

1. system where unit cost obtained by assign total cost to similar output

2. Unit costs = total costs/ units of output

3. Each product receive similar materials, labor, and overhead costs

4. VS JOB COSTING

   • individual jobs use different quantities of resources

5. calculate an average production cost for all units produced

6. PRODUCING DEPART. has their own WIP account

   • goods completed, transferred next depart.

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