Introduction Process Costing
In one of the earlier discussion we have explained some of the techniques of costing such as Job, Batch, and Contract costing. The techniques of costing generally aim at finding out the cost of a product or service that is offered through the organization. Process Costing is also a technique of costing that is used in those industries in which the production is in constant process that is the output of one process turns into the input of the following process and so on. Instances of such industries are, paint works, food manufacturing, chemical plants, oil refining, dairy, paper mill, textile mills, sugar factories, fruit canning and so on. In such type of industries, the input is put in the first process and the output of each process becomes the input of the subsequent process till the final product comes out from the last process. This technique is used in which it is not possible to trace the items of prime cost [that contain all direct costs] to a particular order since its identity is lost in the continuous production. So it is not probable to calculate the cost of say, 200 litters of oil or 200 kg of sugar generated like thousands of liters of oil or thousands of kg of sugar is manufactured at the similar time. We can acquire the cost per liter or kg by dividing the total cost from the total production produced throughout that period.
In business where a product passes via various stages of production, each different and well defined, process costing is used. A separate account for every process is opened and all expenditure pertaining to a process is charged to that process account. So, the cost of the product at every stage of manufacture is found out. In process costing the completed product of a preceding process turns into the raw material of the next process.
The system of process costing is appropriate for industries including continuous production of similar product or products via the same process or set of processes. It is in assist in plant medicines, producing paper, rubber products, and chemical products. It is also so much ordinary in flour mill, breweries, bottling companies, canning plants etc.
Latest technology based Cost Accounting Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Process Costing homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Process Costing, project ideas and tutorials. We provide email based Process Costing homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Process Costing. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Cost Accounting homework help and assignment help services. They use their experience, as they have solved thousands of the cost accounting assignments, which may help you to solve your complex issues of Process Costing. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
tutorsglobe.com adhesion of stamens assignment help-homework help by online sterile stamen tutors
Pauli’s Exclusion Principle-the Hund’s Rule tutorial all along with the key concepts of Pauli's exclusion principle, Hund's rule, Atomic radius, Properties of Monatomic Lons
tutorsglobe.com artificial technique of vegetative propagation assignment help-homework help by online reproduction in angiosperms tutors
Structural organization and function of protozoans tutorial all along with the key concepts of Nutrition in Protozoan Animals, Locomotion in protozoa, Osmoregulation and Excretion, Mechanisms for Response, Reproduction and life cycles and Encystment
Alkene Synthesis from Alcohol tutorial all along with the key concepts of Preparation of Cyclohexene from Cyclohexanol, Dehydration, Laboratory display of Distillation
tutorsglobe.com etiology assignment help-homework help by online lyme disease tutors
tutorsglobe.com role of bacteria in biological control assignment help-homework help by online beneficial activities of bacteria tutors
theory of elasticity and key concepts of elasticity of demand, income elasticity, cross section, own-price elasticity, cross-price elasticity, dependent variable, arc approach, advertising elasticity, independent variable, point approaches, short run, multiple regressions, elastic, long run, time series and inelastic
tutorsglobe.com classification of algae assignment help-homework help by online algae tutors
tutorsglobe.com time periods and price fixation assignment help-homework help by online equilibrium price tutors
tutorsglobe.com human evolution assignment help-homework help by online humanities tutors
Theory and lecture notes of Rational Functions and Asymptotes all along with the key concepts of Vertical Asymptotes, Horizontal Asymptotes, Holes, Oblique Asymptotes. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Rational Functions and Asymptotes.
tutorsglobe.com torts and compensation systems assignment help-homework help by online humanities tutors
Theory and lecture notes of Matlab Programs all along with the key concepts of matlab programs, Function Programs, Script Programs, Program Comments. Tutorsglobe offers homework help, assignment help and tutor’s assistance on matlab programs.
Pedigree analysis tutorial all along with the key concepts of Autosome, Chromosome number, Karyotype, Homologous chromosome, Nondisjunction, Dosage compensation and Codominance
1938565
Questions Asked
3689
Tutors
1496040
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!