chapter 3 (editing) Flashcards
(9 cards)
Process Operations
Process Operations
, is the mass production of products in a continuous flow of steps
Job order costing system
Process Operations
, is the mass production of products in a continuous flow of steps
In a process costing system
the measurement focus is on the process itself and the standardized units produced
the 1st step in process manufacturing
is to decide when to produce a product
the job order cost accounting system
assigns direct materials, direct labor, and overhead to jobs. (The total job cost/number of units) to compute the cost per unit for that job.
The process cost accounting system
assigns direct materials, direct labor, and overhead to specific processes (or departments).
the unit cost of goods transferred out of a process is computed as follows.
total cost assigned to the process/total number of units started and finished in the period
equivalent units of production (or EUP),
a phrase that refers to the number of units that could have been started and completed given the cost incurred during a period.
