ACCT 2102 Chapter 5 Notes

ACCT 2102 Chapter 5 Notes - Chapter 5 Homogeneous products...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 5 Homogeneous products pass through a series of processes where they receive similar amounts of costs Processes are activities that bring products closer to completion Each apartment has its own WIP account; product won’t go to department B until done in department A Sequential process o A –> B –> C Parallel processes o A –> B –> E C –> D Production Cost Report Reconcile units Define WIP = something that is not finished Weighted Average Method = simple; accurate if costs do not vary from period to period FIFO Method = accurate
Background image of page 1

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

View Full DocumentRight Arrow Icon
Production Cost Report
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/26/2011 for the course ACCT 2102 taught by Professor Farmer during the Spring '08 term at University of Georgia Athens.

Page1 / 3

ACCT 2102 Chapter 5 Notes - Chapter 5 Homogeneous products...

This preview shows document pages 1 - 3. Sign up to view the full document.

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