Methods of work in progress, Cost Accounting

Methods of Work in Progress

The two main methods used for purposes of valuing the opening work in progress:

1. Weighted Average Method

2. FIFO or First In First out Method.

By utilizing these methods enables the cost of the opening work in progress to be suitably assigned to the finished goods and the closing work in process.

Posted Date: 2/7/2013 2:38:35 AM | Location : United States







Related Discussions:- Methods of work in progress, Assignment Help, Ask Question on Methods of work in progress, Get Answer, Expert's Help, Methods of work in progress Discussions

Write discussion on Methods of work in progress
Your posts are moderated
Related Questions
how to calculate variable cost

Keyser Beverage Company reported the following items in the most recent year. Net income $40,630 Dividends paid 5,390 Increase in accounts receivable 12,130 Increase i

Where the liabilities are identified but the amounts cannot be precisely found, we estimate the liability and give for it as a liability. A common illustration is income tax payabl

what is labour

I''m about to take my first cost accounting class in college, Do i need algebra skills to do well on this class


Explain the following types of costs. a. Fixed and variable costs b. Explicit and implicit costs c. Direct and indirect costs d. Past and future costs e.

cost accounting is said to three different phases ?? name them.

Cost Components Companies which manufacture a product face an elaborated set of accounting issues. Additionally the usual accounting matters related with selling and administra

Group Bonus Plan There are specific operations or jobs that require to be done collectively via a group of workers, as an example of, continuous production work flows in asse