logo share us

Process Costing

   

Definition: Process Costing is in cost accounting a method for collecting and assigning manufacturing costs to the units produced. Processing cost is used when identical or nearly identical units are mass produced, where the costs associated with individual units of output need not be differentiated from each other. The cost of each product produced is assumed to be the same as the cost of every other product.
Producing the products may require several processing operations, which are being added to the cost of the products.
See also Activity Based Costing, Job Order Costing.


   
   
💡

Learn more about Process Costing.



More on financial management: Absorption Costing, Accounts Receivable Factoring, Credit Management, Credit Rating, Customer Profitability Analysis, more on financial management...

You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA.



MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration.

We like to keep things short, and provide links to learn more about your subject.


add us to your desktop

Add MBA Brief to your desktop / iPad

   

© 2024 MBA Brief - Last updated: 28-3-2024  -  Privacy   |   Terms