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What you'll learn
Describe cost classifications and their importance.
Explain the differences in financial statements for a manufacturing company versus a merchandising company.
List the cost flow process for a manufacturing company.
Compare a job cost system and process cost system and explain when each would be used.
Describe the cost flows in a process cost system
Explain the concept of overhead and how it is used in a process cost system
Calculate the predetermined overhead rate.
Allocate overhead to job using estimates.
Calculate equivalent units of production
Allocate costs using a First in First Out (FIFO) method
Allocate costs using a weighted average method
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Process costing system-managerial accounting or cost accounting including equivalent unit calculation and journal entries
Rating: 3.7 out of 5
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30,918 students
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Advanced Cost Accounting for Effective Managerial Decision-Making and Efficient Cost Management
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Process Costing System-Cost Accounting-Managerial Accounting
Advanced Cost Accounting for Effective Managerial Decision-Making and Efficient Cost Management
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24 downloadable resources
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