Tag Archives | Process Costing

Valuation of Opening Work-in-Progress

The following points highlight the two methods of valuation of opening work-in-progress. The methods are: 1. FIFO Method of Valuation 2. Average Cost Method of Valuation. Valuation of Opening Work-in-Progress: Method # 1. FIFO Method of Valuation: Under this method of valuation it is assumed that units are dealt with on a first-in-first-out basis which […]

Equivalent Production (With Examples) | Cost Accountancy

In this article we will discuss about the Concept of Equivalent Production:- 1. Concept of Equivalent Production 2. Equivalent Units and Cost Elements. Concept of Equivalent Production: Equivalent Production represents the production of a process in terms of completed units. At the end Of any given period there are likely to be partly completed units […]

shopify traffic stats