Process Costing System-Cost Accounting-Managerial Accounting
Mum Coupon

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Process costing system-managerial accounting or cost accounting including equivalent unit calculation & journal entries

Created by Robert (Bob) Steele – Last updated 3/2019 – English

This course includes

  • 8 hours on-demand video
  • 24 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Assignments
  • Certificate of Completion

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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