Process Costing Homework Help

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Process is the work going on in the manufacturing sector of a company. Process costing is the method to identify the manufacturing costs going on through the process. In our process costing homework help article, we define that it also helps to assign the manufacturing coast to the units produced. It is usually used in mass production where identical units are produced at larger quantity.
 

Method of process costing

 
In our process costing homework help article the main focus is provided over the importance of process costing that will be discussed after understanding the method of process costing.
In a mass production company, the cost of each product produced is considered to be the same. As our process costing homework help experts suggest, these costs are accumulated over a fixed period of time and after summarizing they are allocated to all of the units that have been produced. On the other hand in the cases of individually manufactured products, our process costing homework help article writers suggest to use the job costing method to accumulate the cost and assigning them to the products.
 

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Types of process costing

 
1. Weighted average cost
2. Standard costs
3. First-in first-out costing
Importance of process costing
 
It is important for the people to know where their money is being spent and in process costing homework help article the main importance is focused on the distribution of money in production process.
 
Industries where process costing is used
• Oil refining for aviating gallons of fuel
• Food production
• Chemical processing, etc.
 
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