Monroe Materials processes a purchased material, PM-20, and produces three outputs, Alpha, Beta, and Gamma. In February, the costs to process PM-20 are $1,044,000 for materials and $612,000 for conversion costs. The results of the processing follow: Alpha Beta Gamma Product Required: Assign costs to Alpha, Beta, and Gamma for February using the net realizable value method. Alpha Beta Units Produced 30,500 24,400 6,100 Gamma Total Sales Value per Unit $ 9.60 18.00 80.00 Cost Assigned

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…