Catalogue

Description

This course will be an overview of:

• Steps in developing manufactured product cost information using process costing.
• The various process costing methods weighted average, standard costs, and FIFO costs used by a manufacturing firm.
• Special situations that occur in process costing within the manufacturing industry.

After completing this course, the learner should be able to:

• Define process costing
• Identify the steps in process costing and reporting in manufacturing firms.
• Calculate manufactured product costs using the weighted average costs method.
• Calculate manufactured product costs using the standard costs method.
• Calculate manufactured product costs using the FIFO method.
• Recognize special situations that occur in manufacturing facilities that use process costing Identify the impact of the COVID-19 pandemic on manufacturing costs.