Discussion #2 - Process Costing A+ This week we are learning about Process Costing, when similar...

 

Transcribed Image Text:

Discussion #2 - Process Costing A+ This week we are learning about Process Costing, when similar items are produced in large quantities. For your discussion this week, give me an an example of a product that would be produced in large quantities. Then tell me what the different WIP accounts might be. For example, I might respond with a cookie manufacturer. The WIP departments could be WIP - Mixing, WIP - Baking, WIP - Packaging. Just remember, once a product is completed, it is transferred out of WIP to Finished Goods Inventory. So you would not have a WIP department for shipping or distribution. Don't forget to earn full points you must also respond to at least 2 of your classmates. 10 10 Discussion #2 - Process Costing A+ This week we are learning about Process Costing, when similar items are produced in large quantities. For your discussion this week, give me an an example of a product that would be produced in large quantities. Then tell me what the different WIP accounts might be. For example, I might respond with a cookie manufacturer. The WIP departments could be WIP - Mixing, WIP - Baking, WIP - Packaging. Just remember, once a product is completed, it is transferred out of WIP to Finished Goods Inventory. So you would not have a WIP department for shipping or distribution. Don't forget to earn full points you must also respond to at least 2 of your classmates. 10 10

Answer rating: 100% (QA)

Does State University have an enforce able agreement with Gr... View the full answer