Process Costing
How are costs assigned to mass–produced products?
• Q2: What are equivalent units & how do they relate to the production process?
• Q3: How is the weighted average method used in process costing?
• Q4: How is the FIFO method used in process costing?
• Q5: What alternative methods are used for mass production?
• Q7: How are spoilage costs handled in process costing?
• Q8: How does process costing information affect managers’
incentives and decisions?
