Ch 7 cost accounting

Question 1

What is cost of goods manufactured?

Answer 1

Bwip + dm + dml + moh - ewip

Question 2

Cost of goods sold

Answer 2

Finished goods beg of year 
\+ cost of goods manufactured 
= cost of goods available for sale
- finished goods end of year
= cost of goods sold

Question 3

What are the 5 steps of process costing?

Answer 3

PECUA
Physical flow
Equivalent units of production
Cost to allocate
Unit costs
Allocate total costs