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Process costing is a method used to account for the costs of manufacturing products that are identical or nearly identical and are produced continuously by a manufacturer. It involves tracking the costs incurred at each stage of production and allocating those costs to the units as they progress through the manufacturing process. The average unit cost is then calculated by dividing the total costs incurred during a period by the number of units produced during that period.
Process costing is a method used to account for the costs of manufacturing products that are identical or nearly identical and are produced continuously by a manufacturer. It involves tracking the costs incurred at each stage of production and allocating those costs to the units as they progress through the manufacturing process. The average unit cost is then calculated by dividing the total costs incurred during a period by the number of units produced during that period.
Process costing is a method used to account for the costs of manufacturing products that are identical or nearly identical and are produced continuously by a manufacturer. It involves tracking the costs incurred at each stage of production and allocating those costs to the units as they progress through the manufacturing process. The average unit cost is then calculated by dividing the total costs incurred during a period by the number of units produced during that period.