Details for the past month of a continuous process are:

Related MCQs

• Process costing is used when output is produced in a continuous process system, and it is difficult to separate individual units of output.
• In some cases, a company might have to pay to dispose of losses in a process. The cost of disposal represents an additional cost to the process. To reflect this in the process account the normal loss is measured at zero but the expected costs of disposal are debited to the process account.
• A separate record must therefore be maintained to show the details of individual jobs. Such records are often known as job cost sheets or job cost cards.
• If beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are
• Where process scrap is recycled for use in conjunction with new material as well as being so externally, which of. the following is most likely to be the value at which is debited to the process?
• If beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are
• In process costing each process is treated as a separate………………
• If normal loss has a scrap value the company is able to recover some of the input costs to the process. The scrap value reduces the cost of the process.
• If it is assumed that all losses in process occur at the end of the process, units of abnormal loss are costed in exactly the same way in the as units of finished output.
• The process of distribution of overheads allotted to a particular department or cost center over the units produced is called: