The product of the # of partially completed units and their percentage of completion with respect to particular cost. Is the # of complete whole units one could obtain fro the materials and effort contained in partially completed units.

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Equivalent Units of Production (Weighted average method)

Units transfered to the next department (or to finished goods) during the period plus the equivalent units in the depts ending WIP Inventory.

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FIFO Method

Method of ACCT for cost flows in a process costing system in which equivalent units and unit costs relate only to work done during the current period.

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Process Costing

Method used when essentially homogeneous products are produced on a continuous basis.

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Transfered-in Cost

The cost atached to products that have been received from a prior processing dept.

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Weighted Average Method

Cost method that blends together units and costs from both current and prior periods.

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Conversion Cost

DL cost plus MOH cost.

Equivalent Units

The product of the # of partially completed units and their percentage of completion with respect to particular cost. Is the # of complete whole units one could obtain fro the materials and effort contained in partially completed units.

Equivalent Units of Production (Weighted average method)

Units transfered to the next department (or to finished goods) during the period plus the equivalent units in the depts ending WIP Inventory.

FIFO Method

Method of ACCT for cost flows in a process costing system in which equivalent units and unit costs relate only to work done during the current period.

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Koofers.com

Process Costing

Method used when essentially homogeneous products are produced on a continuous basis.

Transfered-in Cost

The cost atached to products that have been received from a prior processing dept.

Weighted Average Method

Cost method that blends together units and costs from both current and prior periods.

Generated by
Koofers.com

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Conversion Cost

DL cost plus MOH cost.

Equivalent Units

The product of the # of partially completed units and their percentage of completion with respect to particular cost. Is the # of complete whole units one could obtain fro the materials and effort contained in partially completed units.

Equivalent Units of Production (Weighted average method)

Units transfered to the next department (or to finished goods) during the period plus the equivalent units in the depts ending WIP Inventory.

FIFO Method

Method of ACCT for cost flows in a process costing system in which equivalent units and unit costs relate only to work done during the current period.

Process Costing

Method used when essentially homogeneous products are produced on a continuous basis.

Transfered-in Cost

The cost atached to products that have been received from a prior processing dept.

Weighted Average Method

Cost method that blends together units and costs from both current and prior periods.

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