Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* Units completed and transferred out Units in process, July 31, 90% complete** * With respect to conversion costs. Required: 1. Prepare a physical flow schedule for July. 10,400 90,000 15,400 Jackson Products Physical Flow Schedule For the Month of July Units to account for: Units, beginning work is process (60% complete) Units started during July Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process Units in ending work in process (90% complete) Total units accounted for

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 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 …

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 compari…