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Cost Allocation to Product Units (I): Process Costing

Reference: CN-156-E
Number of pages: 11
Publication Date: Jan 1, 1986
Source: IESE (España)
Type of Document: Technical Note

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Description

This note first introduces the two basic systems for allocating costs to product units: process costing and job-order costing. Then, process costing is described in detail, including the calculation of equivalent units, allocation of costs to product units under FIFO and weighted-average methods, and journal entries of the operations.

Keywords

Costs