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MRP glossary TOP > Cost Control > Total Process Costing

Total Process Costing

It is the Cost Accounting used by the enterprises, like parts processing manufacturers or pharmaceutical makers, which generate the same product in a continuous fashion through a number of processes. In this the Cost Accounting, A finished product cost is obtained using the current-term consumption of each process, the beginning-work-in-process cost, the ending-work-in-process cost. The key point of this calculation is to rationally allocate process common expenses commonly used by a number of processes.

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Related term: Cost Accounting

Reference:JIT Business Research Mr. Hirano Hiroyuki

Total Joint Product Production Costing | Cost Control | Variable Cost