This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: of work done to date BI of WIP is blended in with current period costs 2. First-In-First-Out Assigns the cost of previous period’s EU in BI-WIP to the first units completed & transferred out Assigns the cost of EU worked on during the current period first to complete BI, next to units started & completed, and lastly to units in EI-WIP 3. Standard Costing Teams work together to determine separate standard costs per EU Standard costs replace actual costs in EU calculations Similar to the FIFO in all the steps except the unit cost...
View Full Document
This note was uploaded on 03/21/2012 for the course BACC 7121 taught by Professor O during the Spring '12 term at Seton Hall.
- Spring '12