process costing

process costing

a system for determining the cost of products made in a PROCESS PRODUCTION plant like an oil refinery. The continuous nature of such a process and the uniformity of the products emerging from it make it difficult to identify specific units of output. The cost of any particular unit must, therefore, be taken as the average cost of manufacture over a period. Process costing is further complicated by the tendency to experience process wastage from chemical reaction or evaporation and the production of waste products which have to be allowed for in costing products emerging from the process. Furthermore, in making the main product, BY-PRODUCTS may arise from the production process, making it difficult to determine the respective cost of main and by-products since they result from common expenditures on raw materials and processing of these materials. See BYPRODUCT PRICING.
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Sources said that the Election Commission of Pakistan (ECP) has issued an advance amount for the purchase with printing process costing over Rs610 million.
Watermarked ballot papers to be used in 2018 general elections
Another process costing method is throughput accounting (TA).
Process-oriented managerial accounting
As with the order-processing element, process costing has also been applied to warehousing.
A model-based method for assessing potentials in distribution logistics
The primary subject matter of this case is the preparation of a basic process costing report using the weighted-average method.
Paper Airplanes, Inc.: utilizing an in-class case to demystify process costing.(Instructor's Note)
Abstract: This paper utilizes the concept of process costing methodology to determine an inspection point of a process.
Determination of inspection point based on process costing methodology
The topic of process costing as often presented in textbooks is simplified and doesn't reflect industry practice.
Process costing and management accounting in today's business environment
From this week managers who supervise children on work experience placements have to be checked in a process costing pounds 64.
CRB check cost may threaten work placements
Activity-based costing, or process costing, can be used to better understand current costs and profitability, and to prioritize opportunities for process cost improvement.
Metrics management: to improve performance in a soft market, smart insurers are measuring what matters
Although qualified, I worked through the process costing questions in Tim Thompson's exam tips for paper P2 (Study notes, February).
Setting a good example
just how much money is this process costing the pro-hunters?
Dear Mirror: The BIG issue - Chase the hunters
(26) This process of costing operations using proportional costs competes with the attempt to achieve better cost transparency in indirect areas with process costing (27) tools to also improve the planning and control of costs that were previously budgeted only as a lump sum.
0 introduction: marginal costing as a management accounting tool
Most management accounting texts discuss product-costing methods: job order and process costing in separate chapters, usually at the beginning of the book in Chapters 3, 4, or 5.
Jerold L. Zimmerman, Accounting for Decision Making and Control

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