Process Costing: A Worksheet Approach

Abstract

This chapter presents a new approach to teach process costing that uses worksheets to create the information necessary to account for costs. The approach employs a five-column, five-row worksheet that presents weighted-average and FIFO costs per equivalent unit simultaneously. Then, the goal of process costing, accounting for costs, is formally presented in a manner to emphasize its importance. As a result, students are better able to compare and contrast the two process-costing methods.

Citation

Baker, W.M. (2023), "Process Costing: A Worksheet Approach", Calderon, T.G. (Ed.) Advances in Accounting Education: Teaching and Curriculum Innovations (Advances in Accounting Education, Vol. 27), Emerald Publishing Limited, Leeds, pp. 191-203. https://doi.org/10.1108/S1085-462220230000027010