Business Unleashed: Mastering Management

This podcast provides practical examples of how to calculate process costs in a production setting. It presents a hypothetical scenario where a company manufactures a product across multiple departments, including the addition of raw materials and direct labor. The podcast illustrates step-by-step how to calculate the cost per equivalent unit for each department, considering the production status of units at the beginning and end of the period, and how to allocate costs to finished products and work in process.