1. Discuss the weighted average concept:

Part 2: Process Costing:

Video #1: Process Costing Video Link:  How It’s Made-stacked potato chips http://www.youtube.com/watch?v=q_ogZcvXBqQ&feature=related

Requirement 1: Questions to be answered:

1. Discuss the weighted average concept: 

  • Define weighted average concept.
  • Why is weighted average used to make this product?
  • Describe how weighted average works.

2. List at least 6 items that is included in Direct Materials (items needed to manufacture potato chips).

3. List at least 3 items that is included in Manufacturing Overhead (items needed by employees as they manufacture potato chips).

Video #2: Process Costing Video Link: https://youtu.be/2kttVyakHN4

Requirement 2: Questions to be answered:

The video is a second example of process costing, but this manufacturer uses the First In, First Out (FIFO) Concept.

1. Discuss the FIFO concept: 

  • Define the FIFO concept.
  • Why is FIFO method used to make this product?
  • Describe how the FIFO method works.

2. List at least 6 items that is included in Direct Materials (items needed to manufacture bubble gum).

3. List at least 3 items that is included in Manufacturing Overhead (items needed by employees as they manufacture bubble gum).

Submit a Word document in the Canvas assignment submit box with all of the requirements by the due date. Part #2 of this project is limited to two pages, typed, single spaced answer.

Uncategorized
All Rights Reserved, Essaysland.com
Disclaimer: