Week 7 Discussion

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Chapter 6: Process Costing

1. What are the concepts underlying a process costing system? How might a company identify and group activities into a particular process?

2. What information is contained in a production report? What are equivalent units and how would a company calculate them? How does the production report and equivalent units relate to unit costs? 3. Inventory in each process can be accounted for using first-in first-out (FIFO) or weighted average costing methods. Why would a company choose to use FIFO costing? Why would a company choose to use weighted average costing? Please make sure that the questions are answered in complete sentences with adequate detail. Make sure that you check your grammar and spelling before you submit your post. Don't forget that your initial post to the Discussion Board requires at least one reference, in APA style, that should always include your eText. I will be posting questions and comments to your thread. Make sure that you respond to those questions and comments. Please provide meaningful responses to the posts of at least two classmates.

PLEASE MAKE SURE ALL THREE ARE FULLY ANSWERED AND IF SOURCES CAN BE PROVIDED THAT WILL BE GREAT!