1.WHAT IS THE PROCESS COSTING SYSTEM
EXPLAIN ?
2.why accounting is required for spoiled units in house hold aids company
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1.A process costing system is a method typically used within certain sectors of the manufacturing industry to determine the total production cost for each unit of product. It accumulates cost from each process or department and allocates them to the individual products produced.
2.Spoilage—units of production that do not meet the standards required by customers for good units and that are discarded or sold at reduced prices. Rework—units of production that do not meet the specifications required by customers but which are subsequently repaired and sold as good finished units
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