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Unit 12: Process Costing and its Applications
Stock on 30 June, 2006 are to be valued at cost as shown by month’s production accounts. Notes
prepare the process accounts.
Answers: Self Assessment
1. process industries 2. costing
3. wastage 4. standardised.
5. job costing 6. Scrap
7. debited 8. dimensional specifications
9. production 10. opening or closing work-in-progress
11. True 12. True
13. True 14. True
15. True
12.7 Further Readings
Books Arora M. N., Cost and Management Accounting, Himalaya publishing House,
2010.
pandey, I.M., Management Accounting, Excel Book, New Delhi, 2007.
Richard G. Schroeder, Myrtle W. Clark, Myrtle W. Clark, Jack M. Cathey, Financial
Accounting Theory and Analysis: Text Readings and Cases, John Wiley & Sons Inc.
Shah paresh, Management Accounting, Oxford University press, New Delhi, 2009.
Online links www.futureaccountant.com
www.managementstudyguide.com
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