ACCT2320 - CH. 4

producing same item, mass volume

costs tracked through a series of connected manu processes/departments

• process costing

• job order

specific items

costs assigned to each job

unique characteristics products

• process costing

• job order

one wip inventory account

• process costing

• job order

multiple wip inventory account

• process costing

• job order

determination of total manu cost:

each job

• process costing

• job order

determination of total manu cost:

each period

• process costing

• job order

unit-cost calcs:

cost of each job / units produced for the job

• process costing

• job order

unit-cost calcs:

sum of all DM costs and conversion costs, each divided

by its equivalent units of production

• process costing

• job order

flow of costs is in

• process costing

• job order

Which of the following companies
would be most likely to use
process costing?

• catering company

• custom yacht maket

• tire manufacturer

• attorney's office