121_CH_13Qs

121_CH_13Qs - CHAPTER 13: PROCESS COSTING - QUESTIONS 13-1...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAPTER 13: PROCESS COSTING - QUESTIONS 13-1 A company that should use a process costing system typically has homogenous products, which pass through a series of similar processes or departments. These firms usually engage in continuous mass production of a few products . 13-2 Process costing is likely used in industries such as chemicals, oil refining, textiles, paints, flour, canneries, rubber, steel, glass, food processing, mining, automobile production lines, electronics, plastics, drugs, paper, lumber, leather goods, metal products, sporting goods, cement, and watches. 13-3 Differences between job and process costing: (1) accumulating costs by job vs. department, (2) collecting cost data using the job cost sheet vs. the production cost report, and (3) computing unit cost by job vs. department. 13-4 Equivalent units are the number of completed units that could have been produced given the amount of work actually performed on both complete and partially completed units....
View Full Document

This note was uploaded on 10/26/2010 for the course MBA FIN301 taught by Professor Park during the Spring '10 term at Liberty.

Page1 / 2

121_CH_13Qs - CHAPTER 13: PROCESS COSTING - QUESTIONS 13-1...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online