CUSTOM COST ACCOUNTING 15E
CUSTOM COST ACCOUNTING 15E
15th Edition
ISBN: 9781269831338
Author: Horngren
Publisher: PEARSON C
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Textbook Question
Chapter 17, Problem 17.1Q

Give three examples of industries that use process-costing systems.

Expert Solution & Answer
Check Mark
To determine

To identify: The examples of industries that use process-costing systems.

Explanation of Solution

Process Costing:

Process costing is a tool used to ascertain the cost incurred by the business at each level of production. It is also used as a cost control technique.

Explanation:

Examples of industries that use process-costing systems are:

  • Chemical processing.
  • Food production.
  • Oil refining.
  • Plastics
  • Brick and tile manufacturing.
  • Process cost system is used by the businesses which produce homogeneous goods like bricks manufacturer.
  • It is beneficial for the businesses where mass production is done through a similar process.
Conclusion

Hence, the chemical processing, food production and oil refining are some examples of industries that use process-costing systems.

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Chapter 17 Solutions

CUSTOM COST ACCOUNTING 15E

Ch. 17 - Identify the main difference between journal...Ch. 17 - The standard-costing method is particularly...Ch. 17 - Why should the accountant distinguish between...Ch. 17 - Transferred-in costs are those costs incurred in...Ch. 17 - Theres no reason for me to get excited about the...Ch. 17 - Assuming beginning work in process is zero, the...Ch. 17 - The following information concerns Westheimer...Ch. 17 - Sepulveda Corporation uses a process costing...Ch. 17 - Penn Manufacturing Corporation uses a...Ch. 17 - Kimberly Manufacturing uses a process-costing...Ch. 17 - Equivalent units, zero beginning inventory....Ch. 17 - Journal entries (continuation of 17-21). Refer to...Ch. 17 - Zero beginning inventory, materials introduced in...Ch. 17 - Weighted-average method, equivalent units. The...Ch. 17 - Weighted-average method, assigning costs...Ch. 17 - FIFO method, equivalent units. Refer to the...Ch. 17 - FIFO method, assigning costs (continuation of...Ch. 17 - Operation costing. The Carter Furniture Company...Ch. 17 - Weighted-average method, assigning costs....Ch. 17 - FIFO method, assigning costs. 1. Do Exercise 17-29...Ch. 17 - Transferred-in costs, weighted-average method....Ch. 17 - Transferred-in costs, FIFO method. Refer to the...Ch. 17 - Operation costing. Egyptian Spa produces two...Ch. 17 - Standard-costing with beginning and ending work in...Ch. 17 - Equivalent units, comprehensive. Louisville Sports...Ch. 17 - Weighted-average method. Hoffman Company...Ch. 17 - Journal entries (continuation of 17-36). Required...Ch. 17 - FIFO method (continuation of 17-36). 1. Do Problem...Ch. 17 - Transferred-in costs, weighted-average method...Ch. 17 - Transferred-in costs, FIFO method (continuation of...Ch. 17 - Weighted-average method. McKnight Handcraft is a...Ch. 17 - FIFO method (continuation of 17-41). 1. Complete...Ch. 17 - Transferred-in costs, weighted-average method....Ch. 17 - Transferred-in costs, FIFO method. Refer to the...Ch. 17 - Standard costing, journal entries. The Warner...Ch. 17 - Multiple processes or operations, costing. The...Ch. 17 - Benchmarking, ethics. Amanda McNall is the...
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