TAILIEUCHUNG - Lecture Managerial accounting (6th edition): Chapter 3 - Jiambalvo

Chapter 3 - Process costing. This chapter presents the following content: Difference between job-order and process costing systems, job-order costing system, process costing system, product flows through departments, cost flows through accounts,. | Prepared by Debby Bloom-Hill CMA, CFM 1 CHAPTER 3 Process Costing 2 Difference Between Job-Order and Process Costing Systems Job-Order Costing Each unique product or batch is considered a job for which cost information is needed Necessary to trace manufacturing costs to specific jobs When completed, cost of job is removed from Work in Process and included in Finished Goods Slide 3-3 Learning objective 1: Describe how products flow through departments and how costs flow through accounts. 3 Difference Between Job-Order and Process Costing Systems Process Costing Large quantities produced of homogeneous products Average cost = total costs divided by total number of items produced When completed, number of units completed times average cost determines cost to be moved from WIP to Finished Goods Slide 3-4 Learning objective 1: Describe how products flow through departments and how costs flow through accounts. 4 Which of the following characteristics are associated with a process costing .

• Kế toán - Kiểm toán
• Managerial accounting
• Lecture Managerial accounting
• Job order costing system
• Process costing system
• Calculating unit cost
• Equivalent units
• Managerial accounting for managers
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Financial statement
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Financial accounting
• Dynamic business environment
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost