Chapter 5 – Process Costing
Watch the video below and write a three to four paragraphs summarizing the contents of the chapter and video.
In your posts you want to discuss production process and how we account and record Direct Labor, Direct Materials and Overhead in Raw Materials, Work In Process, and Overhead Costs, make sure to discuss Debits and Credits in detail.
Also discuss similarities and differences between job order and process costing. Don’t forget to discuss accounting for equivalent units.
Youtube Video you need to watch – https://www.youtube.com/watch?v=GJGklGGbCzw&ab_channel=Farhat%27sAccountingLectures
Discuss production process and how we account and record Direct Labor, Direct Materials and Overhead in Raw Materials, Work In Process, and Overhead Costs.
