Ch 7 cost accounting Flashcards
1
Q
What is cost of goods manufactured?
A
Bwip + dm + dml + moh - ewip
2
Q
Cost of goods sold
A
Finished goods beg of year \+ cost of goods manufactured = cost of goods available for sale - finished goods end of year = cost of goods sold
3
Q
What are the 5 steps of process costing?
A
PECUA Physical flow Equivalent units of production Cost to allocate Unit costs Allocate total costs