MODULE 4 – COST (CHAPTER 8 & 9) CHAPTER 8 – PROCESS COSTING
Determining Equivalent Units
•The key difference between manufacturing products using a continuous process and manufacturing products in a discrete production environment in terms of product costing is that in a continuous process, individual units are difficult to distinguish because they are rnous
•A reasonable assumption is that all units in a large group cost the same
•As a result, we compute the costs of these large groups, or batches, and then assume that all units in each batch have the same cost
•In continuous production process, some product is always just finishing the process, some product is just beginning it, and some product is about one-half complete
•This variation in completion is what defines a continuous production process
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