Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins

Exercise 5

What does the term equivalent units mean?

Step 1 of 3

Process Costing

Process costing is a costing system where costs are accumulated as per the process and department and then assigns the cost to the homogeneous products. It is called as a process costing because in process costing, cost is calculated process or department wise instead of product wise