Yssa Group of companies manufacture skin bleaching compound through continuous operations in two successive departments K and L. In department L, the process is completed in a week and during this time the unit in process suffer a 10% evaporation loss and a 2,000 increase in units. During the month of November 1012, department K transferred to department L 22,000 units costing 27,500. The records of department L are as follows: Units: In process Nov 1 (3/5 complete) 1,920 units In process Nov 30 (1/4 completed) 3,423 units Costs: In process Nov 1 8,900 Materials 8,900 Labor 7,760 Overhead 8,720 The EUP of Department L was? The total evaporation loss was?
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
Yssa Group of companies manufacture skin bleaching compound through continuous operations in two successive departments K and L. In department L, the process is completed in a week and during this time the unit in process suffer a 10% evaporation loss and a 2,000 increase in units. During the month of November 1012, department K transferred to department L 22,000 units costing 27,500. The records of department L are as follows:
Units:
In process Nov 1 (3/5 complete) 1,920 units
In process Nov 30 (1/4 completed) 3,423 units
Costs:
In process Nov 1 8,900
Materials 8,900
Labor 7,760
The EUP of Department L was?
The total evaporation loss was?
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