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Process Costing

Process Costing

Process Costing. Chapter 17. Learning Objective 1. Identify the situations in which process-costing systems are appropriate. Illustrating Process Costing. Direct Materials, Direct Labor Indirect Manufacturing Costs. Department A. Department B. Finished Goods. Cost of Goods Sold.

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851 views • 66 slides
Process Costing

Process Costing

Process Costing. Chapter 17. Learning Objective 1. Identify the situations in which process-costing systems are appropriate. Illustrating Process Costing. Direct Materials, Direct Labor Indirect Manufacturing Costs. Department A. Department B. Finished Goods. Cost of Goods Sold.

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760 views • 66 slides
Process Costing

Process Costing

Chapter 17. Process Costing. Learning Objective 1. Identify the situations in which process-costing systems are appropriate. Illustrating Process Costing. Direct Materials, Direct Labor Indirect Manufacturing Costs. Department A. Department B. Finished Goods. Cost of Goods Sold.

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666 views • 66 slides
Process Costing

Process Costing

Process Costing. Chapter 17. Illustrating Process Costing. Direct Materials, Direct Labor Indirect Manufacturing Costs. Department A. Department B. Finished Goods. Cost of Goods Sold. Five Steps in Process Costing. Step 1: Summarize the flow of physical units of output.

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873 views • 55 slides
Product and Service Costing: A Process Systems Approach

Product and Service Costing: A Process Systems Approach

Product and Service Costing: A Process Systems Approach. Prepared by Douglas Cloud Pepperdine University. Objectives. 1. Describe the basic characteristics of process costing, including cost flows, journal entries, and the cost of production report.

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996 views • 48 slides
Chapter 14

Chapter 14

Chapter 14. Process-Costing Systems. Explain the basic ideas underlying process costing and how they differ from job costing. Learning Objective 1. Introduction to Process Costing. What is a process-costing system?. It is a costing system in which the cost

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872 views • 45 slides
ACC 3200

ACC 3200

ACC 3200. Process Costing. Learning Objectives. Describe the key features of a process costing system. Reconcile the number of physical units using the weighted average method Calculate equivalent units using the weighted average method.

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652 views • 42 slides
Chapter 4

Chapter 4

Chapter 4. Process Costing and Hybrid Product- Costing Systems. Learning Objective 1. Process Costing. Job-order Costing. Process Costing. Used for production of small, identical, low cost items. Mass produced in automated continuous production process.

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776 views • 39 slides
Chapter 20

Chapter 20

Chapter 20. Managing inventory and quality. The importance of inventory management. Cope with uncertainties in customer demand and in production processes Qualify for quantity discounts Avoid future price increases in raw materials

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448 views • 32 slides
Appendix 21A: Process Costing

Appendix 21A: Process Costing

Appendix 21A: Process Costing. Objectives 1. Distinguish between the flow of costs in process costing and job costs 2. Record process costing transactions 3. Calculate equivalent units 4. Assign costs to units completed and to units in ending work in process inventory.

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369 views • 28 slides
Supply-chain analysis describes the flow of goods, services, and information from

Supply-chain analysis describes the flow of goods, services, and information from

Supply-Chain Analysis Dr. Emilio Moceo Ph.D Director of Studies. Supply-chain analysis describes the flow of goods, services, and information from cradle to grave, regardless of whether

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323 views • 23 slides
Value stream costing

Value stream costing

Value stream costing. Lean reporting & control. Value stream costing. Traditional cost accounting is harmful to lean enterprises. Motivates non-lean behavior and is complex & wasteful. Value stream costing supports lean enterprises. Motivates lean thinking, is understandable, and simple.

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446 views • 22 slides
Summary of SCETC RFP for Enterprise Application Suite

Summary of SCETC RFP for Enterprise Application Suite

Summary of SCETC RFP for Enterprise Application Suite. Presented By: Catrina Howatt Board Meeting: November 13, 2012. What is SCETC?.

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258 views • 18 slides
Cost Accounting

Cost Accounting

The Islamic University of Gaza. Cost Accounting. Inventory Management Dr. Hisham Madi. Special considerations in backflush costing. Backflush costing does not necessarily comply with GAAP. inventory levels may be immaterial

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150 views • 13 slides
Economic techniques for MCS

Economic techniques for MCS

Economic techniques for MCS. External accounting and Ratio analysis Cost accounting. External accounting and ratio analysis. Ratio analysis: ROE analysis Main indicators of profitability analysis: ROE = return on equity = earning/equity

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282 views • 12 slides
Process-Costing Systems

Process-Costing Systems

Process-Costing Systems. 7. Process Costing. Accumulate costs by departments and allocate costs to products based on broad, average costs Process costing systems are usually simpler and less expensive than job-order costing systems. Equivalent Units.

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251 views • 10 slides
Process Costing

Process Costing

Process Costing. Purpose. assign material, labor, and manufacturing overhead costs to products and to provide a mechanism for computing unit product costs . Same accounts and same cost flow as Job Costing. Three Inventory Accounts. Raw Materials Work In Process Finished Goods

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325 views • 9 slides
ACC 349 Final Exam Guide (New 2018 with Excel sheet)

ACC 349 Final Exam Guide (New 2018 with Excel sheet)

ACC 349 Final Exam Guide (New 2018 with Excel sheet)

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36 views • 3 slides
Completed And Transferred To The Next Department Invent Youself/tutorialoutletdotcom

Completed And Transferred To The Next Department Invent Youself/tutorialoutletdotcom

FOR MORE CLASSES VISIT www.tutorialoutlet.com The mixing department has 19,000 units and $90,550 in costs for which to account. Of the 19,000 units, 10,000 were completed and transferred to the next department. The 9,000 remaining were 25% complete for conversion costs. Direct materials are added at the beginning of the process, and the conversion costs are added evenly throughout the process. The cost per equivalent unit is$ 4.25 for direct materials and$0.80 for conversion costs. The total cost of ending WIP is

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37 views • 3 slides

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