1 Azucar, Inc. has six processing decartments for refining sugar-Affination, Carbonation, Decolorization. Boiling. Recovery, and Packaging. Conversion costs are added evenly throughout each process. Data from August for the Decolorization Decartment are as follows: Metric Tons Beginning Work-in-Process Inventory Transferred in 13,500 Completed and transferred out to Boiling in August 5500 Ending work-in-Process Inventory 8000 Costs Beginning Work-in-Process Inventory so Costs added during August Direct materials 3,000,000 Direct labor 1100,000 Manufacturing overhead 625,000 Total costs added during August $4,725,000 The ending Work-in-Process Inventory is 100% and 75% complete with respect to direct materials and conversion costs, respectively. The weighted-average method is used. Compute the cost per equivalent unit for direct materials and conversion costs. (Round any intermediate calculations and your final answer to two decimal places.) S8148 per metric ton for direct materials: S200.00 per metric ton for conversion costs s200.00 per metric ton for direct materials: S8143 per metric ton for conversion costs $222.22 per metric ton for direct materials; S150.00 per metric ton for conversion costs s222.22 per metric ton for direct materials; S222.22 per metric ton for conversion costs

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Process Costing

Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.  

Job Costing

Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.

ABC Costing

Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.