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
Q. Why communities begin using FCA? There are several reasons why communities start by means of FCA. For instance: • To elucidate more evidently MSW costs to people. • It is

Process of Setting Standards in Standard Costing Establishing correct a standard is extremely important due to the accuracy of the standards usually finds out the success of t

Considerations in Variance Investigation As already notice above, not all variances are investigated; this is only the material and meaningful as for cost control reasons vari

is ppe taxable

Find Out the Memorandum Reconciliation Account The givens are the final accounts of a company for the year ending on date 31st December 1999. Manufacturing Trading Loss and Pr

Optimise Manufacturing Cost Of late it is perceived that in order to optimise manufacturing cost, a product might be designed and financed in one country; its material /compon

contribution per unit 8 fixed cost=800.find B.E.P?

Write a mini report in which you "Critically Describe, Aanlyse and Reflect on the Brand Image Extension.  This task must include evidence of collection primary data on the same

The next year's budget for Benny, Inc., is given below: Product 1-2 Sales $945,000-688500 Variable costs 459,900-297,000 Fixed costs 300,000-3

If a company trades in a building towards a new building and does not recognize a gain or loss (because of code section 1031), will this transaction affect the cash flows statement