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Week 6 (Part 2) Reading and Preparation
Learning Outcomes
Upon completion of thi
Week 6 (Part 2) Reading and Preparation
Learning Outcomes
Upon completion of this week’s activities, you will be able to:
Discuss how costs are assigned to mass-produced products.
Explain what are equivalent units, and how they relate to the production process.
Describe how the weighted average method is used in process costing.
Describe how the FIFO method is used in process costing.
Discuss alternative methods that are used for mass production.
Describe how process costing is performed for multiple production departments.
Explain how spoilage costs are handled in process costing.
Discuss how process costing information affect managers’ incentives and decisions.
Reading
Read the following to prepare for this week:
Cost Management, Chapter 6
Videos
Watch the following video, which can be accessed either in the Weekly Media area or by clicking on the links below:
Process Costing Part 1 – Managerial Accounting
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