--%>
Assignment Help - homework help

Define Process and Process Costing

Define Process and Process Costing:

Process: The organized process of transforming inputs (that is, people, equipment, techniques, materials, and atmosphere), to outputs (that is, products or services). The natural aggregation of work actions and tasks executed for the program delivery.

Process Costing: A technique of cost accounting which first collects costs by procedures and then assigns the net costs of each procedure equally to each unit of output flowing via it during an accounting period.

   Related Questions in Managerial Accounting

  • Q : Illustrations of unethical and

    Write down a brief note on the illustrations of unethical and unacceptable actions?

    		•
  • Q : Balancing risk and return What do you

    What do you mean by the term balancing risk and return? Explain in brief?

    		•
  • Q : Main working areas of the coach

    Write a short note on the main working areas of the coach maintenance department?

    		•
  • Q : Reconstitution of Partnership Meaning

    Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted: A) Alter in Profit Sharing Rat

    		•
  • Q : Management accounting-scope Write down

    Write down the scope of Management accounting?

    		•
  • Q : Management accounting According to

    According to Martin and Steele (2010, p.13), “The two principal professional associations in Australia – CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and develo

    		•
  • Q : Calculating the Operating Cost &

    1.   HulaHug Corp., which manufactures hula hoops, currently has two product lines, the Roundabout and the Sassafras. HulaHug has total overhead of $124,478. HulaHug has identified the following information about its overhead activity pools and the two

    		•
  • Q : Cash shortage/overage An income

    An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape

    		•
  • Q : Partners-firm and firms name What do

    What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P

    		•
  • Q : Define Variance Variance : The rate,

    Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.

    		•