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CH 4 - Process Costing - Coggle Diagram

- - - - Raw mats debited to RM account, factory labour to FL, And actual OH to MOH account
      - Costs assigned to WIP inv, Finished Good inv, and COGS
      - Both use DM, DL, MOH
    - - Methods of assigning costs
      - uses many WIP inv
      - Total cost calculated at end of period
      - Unit cost = total manufacturing cost for the period / units produced during period
- - - - Measures department productivity
      - Calculate mats and conversion
    - - Mats
        
        total mat cost / equivalent units of mats
      - Conversion
        
        Total cost / equivalent units
      - Total manu
    - - Phys unit - unit to be accounted for during period regardless of work
      - Total units to be accounted for - units started + beginning wip
      - Total units accounted for - transferred out + end wip
    - - COGS to next department
      - assigns total costs to transferred out and end wip
- - - - All mats are added at the begin, of process
    - - Incurred uniformly through out process
      - Labour + overhead costs
  - - - started and transferred out - units in begin WIP
    - - End wip x completion percentage
    - - % to be completed x units in account