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Q 1     Process Costing          Abdurahman Company started 6,000 units during the month of March. 600 units...

Q 1     Process Costing

         Abdurahman Company started 6,000 units during the month of March. 600 units were in the beginning work in process inventory and 400 units in the ending work in process inventory. Compute the number of Units completed and transferred out during March?

     

            Abdurahman Compagny is using process costing method. Discuss why the company is using process costing and discuss the difference between process costing and job costing.

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Answer #1

Number of units completed and transferred out During march = Beginning work in process+fresh Units Added - Ending work in process

= 600+6000-400

Units completed and transferred out in March= 6200 Units

For company's haveing opening/closeing work in progress calculation of cost per unit under equivalent method (lifo/fifo)So Process costing system can easily use and flexible accounting system so company using process costing system.

Job Costing isued for unique product but processing costing is used for indentical and similar products and

Product cost assigned to jobs in job costing in process costing product cost assigned to process or departments

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