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#process-costing
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Mention the steps in process costing?
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Mar 13
1. Calculate the equivalent units of production for each process.
2. Calculate the cost per equivalent unit for each process.
3. Allocate costs to units completed and transferred out.
4. Allocate costs to units in ending work in process inventory.
5. Prepare a cost reconciliation report to compare the costs accounted for with the costs incurred.
2. Calculate the cost per equivalent unit for each process.
3. Allocate costs to units completed and transferred out.
4. Allocate costs to units in ending work in process inventory.
5. Prepare a cost reconciliation report to compare the costs accounted for with the costs incurred.
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