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Process Costing

Excellent commerce point > Process Costing
Joint Products and By Products ​
09
Jun

Joint Products and By Products Question 1.Narrate the terms ‘Joint Products’ and ‘By-Products’ with an example of each term. [CA Inter Dec. 2021, 5 Marks]Answer:Joint Products: Joint products represent two or more products separated in the course of the same processing operation usually requiring further processing, each product being in such proportion that no single […]

Posted in: ca intermediate notes ,
Tags: Accounting Concepts , By-Products , ca foundation , cma foundation , Commerce Coaching , Cost Accounting , ECP Coaching , Joint Products , Process Costing , Product Cost Allocation ,
Process and Operation Costing
07
Jun

Process and Operation Costing Question 1.Explain the “Equivalent Production.” [CA Inter Nov. 2013, 4 Marks]Answer:Equivalent Production:When opening and closing stocks of work-in-process exist, unit costs cannot be computed by simply dividing the total cost by total number of units still in process. We can convert the work-in-process units into finished units called equivalent production units […]

Posted in: ca intermediate notes ,
Tags: Accounting Education , ca foundation , cma foundation , Cost Accounting , Costing Techniques , ECP Commerce Coaching. , Manufacturing Costs , Mass Production Costing , Operation Costing , Process Costing ,
Cost Accounting System
06
Jun

Cost Accounting System – CA Inter Costing Study Material Question 1.Explain integrated accounting system and state its advantages. fCA Inter Nov. 2019, May 2019, May 2015, May 2012, May 2010, 5 Marks]Answer:Integrated Accounting System:Integrated Accounting System is a system of accounting, where the cost and financial accounts are kept in the same set of books. […]

Posted in: ca intermediate notes ,
Tags: Accounting Methods , Cost Accounting , Cost Accounting System , Cost Analysis , Cost Control , Financial Management , Job Costing , Management Accounting , Process Costing , Production Cost Tracking , Types of Costing Systems ,