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.
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