Process Costing

In a 100 words or more reply to statement below about process costing

  • I understand the mechanics of process costing and why it differs from job-order costing. However, I find it to be conceptually more difficult then job-order costing. Process costing is a standard allocation methodology for businesses where the products being manufactured are identical in nature. The example the text gives is soda, gasoline, beer or even electricity. The main idea behind process costing is that you need to first separate your manufacturing process into a series of steps. Process costing calculates equivalent units produced for each step of the manufacturing process. At that point, costs are allocated to the units that have been processed. Has anyone else found these concepts to be generally more difficult then those addressed in chapter 17?

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