Process Costing - P rocess Costing Process costing : is...

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Process Costing Process costing : is used when similar products (homogeneous) are mass produced on a continuous basis, it spreads costs on units on an average rating. EUP: Equivalent units of production P.S. the different is just by treating the BWIP Direct materials added at the beginning Weighted Average FIFO Beginning WIP Units in BWIP X 100% Units in BWIP X 0% Started and completed Units S%C X 100% Units S%C X 100% Ending WIP Units EWIP X %completed Units EWIP X %completed Totals EUP Somme WA Somme FIFO Direct material added throughout process Weighted Average FIFO Beginning WIP Units in BWIP X 100% Units in BWIP X % needed to complete Started and completed Units S%C X 100% Units S%C X 100% Ending WIP Units EWIP X %completed Units EWIP X %completed Totals EUP Somme WA Somme FIFO Per-unit costs Weighted Average FIFO Per-unit costs Beginning WIP + Added during process Added during process Somme WA Somme FIFO Total per-unit cost Somme per-unit DM + Somme per unit CC Somme per-unit DM + Somme per unit CC
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Process Costing - P rocess Costing Process costing : is...

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