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Using How It's Made videos, find a product or service for which process costing would be appropriate, such as toothpaste, matches, batteries, potato chips,
Using "How It's Made" videos, find a product or service for which process costing would be appropriate, such as toothpaste, matches, batteries, potato chips, or coins. Please provide the URL of the YouTube video that you choose for Part 2. Watch the video and answer the following questions: What product or service did you choose? Why is process costing appropriate for this setting? Why does the company that makes the product or service need a cost system? Describe two decisions a manager might make based on cost information. Prepare a diagram to show the various processes required to make the product or service. Describe the (major) raw materials used in each process and name two costs that would be included in conversion cost for each process. Why would MANAGERS (not accountants) need to know the cost of items in process?
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