Process costing procedure, Cost Accounting

Process Costing Procedure

1. The production factory is divided into a number of methods.

2. An account is maintained and opened for every process.

3. Every process account is debited along with materials, direct expenses, labor and overheads apportioned to the process.

4. The output of a process is transferred to the next process input of such process.

5. The completed output of the last process is transferred to the finished goods account.

Posted Date: 2/7/2013 2:31:42 AM | Location : United States







Related Discussions:- Process costing procedure, Assignment Help, Ask Question on Process costing procedure, Get Answer, Expert's Help, Process costing procedure Discussions

Write discussion on Process costing procedure
Your posts are moderated
Related Questions
Frame-it Ltd is a manufacturer of metal picture frames. The firm's two product lines are designate S (small frames: 12 x18 cm) and L (large frames: 20 x 25 cm). The primary raw mat

Q. Explain Break-even analysis? Cost-volume-profit (CVP) analysistracks that how profit changes when there are changes insales price, variable costs, fixed c

Alameda Service center just purchased an automobile hoist for $ 14000. The hoist has a 6 year lifeand an estimated salvage value of $1481. Installation costs were $3020, and freigh

according to a factory cost ledger, job no 51 has incurred the following costs: direct material - 30

formula for economic order quantity


What are the five accounts used in adjusting entry for periodic inventory at the end of the year?

explain one operation: unit or output cost


explain any five qualities of accounting profession