ASAP Salution – Job costs & Process costs

1. Job Order Costing vs Process Costing (5: 59

https://www.youtube.com/watch?v=F6RzLSSKlZM

2. Job Order Costing (4:25)

https://www.youtube.com/watch?v=Uw_52M9GLbg

3. Process Costing (12:15)

https://www.youtube.com/watch?v=guZc84c5HNI

4.Cost Per Equivalent Unit (weighted average method) (12:20)

https://www.youtube.com/watch?v=Txv05196CWs

5.Cost Per Equivalent Unit FIFO Method (7:53)

https://www.youtube.com/watch?v=C76QjSgvnyQ

6.Cost Per Equivalent Unit– FIFO Method vs. Weighted-average Method (8:35)

https://www.youtube.com/watch?v=P_Nwchc_pcs

7.Cost Per Equivalent Unit, FIFO Method, Part 2 (Applying Costs) (6:47)

https://www.youtube.com/watch?v=y1TLRSL9Yjo

After watching the videos, please answer the following questions one paragraph for each question:

1. How might you apply direct labor costs under Job Order versus Process Costing?

2.Under the 2 methods of Process Costing, why is the FIFO method considered superior to the Weighted Average method?

3. Is it possible to monitor cost “trends” using the Weighted Average method?