Process Costing Flashcards
1
Q
What is the weighted avg. method?
A
it pool costs associated with begining work-in-process and costs we incur this period
2
Q
What is the FIFO method?
A
it assigns costs beginning work-in-process and costs we incur this period separately
3
Q
FIFO tracks EWIP in addition to? (when calculating EU and product costs)
A
BWIP and SCT
4
Q
Weight avg. tracks EWIP in addition to?
A
C+T
5
Q
Which process costing methods assumes BWIP is completed during the current period?
A
weight avg.
