{"id":7282,"date":"2023-06-09T14:40:56","date_gmt":"2023-06-09T14:40:56","guid":{"rendered":"https:\/\/commerceiets.com\/?p=7282"},"modified":"2023-06-09T14:40:58","modified_gmt":"2023-06-09T14:40:58","slug":"applications-of-process-costing-in-different-industries","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/applications-of-process-costing-in-different-industries\/","title":{"rendered":"TOP 10 APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES"},"content":{"rendered":"\n<p><strong><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span>&#8211; MEANING OF PROCESS COSTING<\/strong><\/p>\n\n\n\n<p>Process Costing is that aspect of operation costing which is used to ascertain the cost of the product at each process or stage of manufacture. This method of accounting used in industries where the process of manufacture is divided into two or more processes. The objective of process accounting is to find out the total cost of the process and the unit <a href=\"https:\/\/commerceiets.com\/types-of-cost\/\" target=\"_blank\" rel=\"noreferrer noopener\">cost<\/a> of the process for each and every process. Usually the industries where process costing used are textile, oil industries, cement, pharmaceutical etc.<\/p>\n\n\n\n<p>ACCORDING TO CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS, LONDON<\/p>\n\n\n\n<p>\u201cProcess costing is that form of operation costing which applies where standardize goods are produced.\u201d<\/p>\n\n\n\n<p>Process costing is a method of costing under which all costs are accumulated for each stage of production or process, and the cost per unit of product is ascertained at each stage of production by dividing the cost of each process by the normal output of that process.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span style=\"font-weight: normal;\"><strong>APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/strong><\/span><\/h3>\n\n\n\n<p>The industries in which process costs may be used are many. In fact, a process costing system can usually be devised in all industries except where job, batch or unit or operation costing is necessary. In particular, the following are examples of industries where process costing is applied:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-3-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7284\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-3-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-3-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-3-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-3.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\"><strong>APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/strong><\/span><\/figcaption><\/figure>\n\n\n\n<ul>\n<li><strong>IDENTICAL PRODUCTS INDUSTRIES<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing is most often used when manufacturers release identical products. If mass produced televisions have the same parts, manufacturers can assign consistent prices to the products based on how much the products cost to manufacture overall.<\/p>\n\n\n\n<ul>\n<li><strong>INDUSTRIES WITH MULTIPLE DEPARTMENTS<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Businesses that have multiple departments usually use process costing so that management can assess the costs accumulated by each department. For example, one department can take the raw resources and refine them before turning them into finished parts, another department can assemble the parts and a third department can test the finished product to assess both quality and safety. Materials might need to be shipped from one department to another, which may incur additional costs. When the costs of production go up unexpectedly, process costing can allow management to quickly pinpoint the department responsible for the increased costs and identify the source of the increased cost.<\/p>\n\n\n\n<ul>\n<li><strong>INDUSTRIES WITH INTERCHANGEABLE PARTS<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing comes into play when a factory manufactures identical parts. For example, a computer manufacturing plant will create numerous components that are interchangeable among computers of the same model. Process costing allows manufacturers to sell individual parts separately to computer repair shops or individual buyers, since the manufacturers know the cost of the separate parts.<\/p>\n\n\n\n<ul>\n<li><strong>INDUSTRIES WITH VARYING PRODUCT FEATURES<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Products that have multiple extraneous features can benefit from process costing. Manufacturers can release two versions of the product, with one version costing less but having fewer features and another product costing more but having more features. For example, a manufacturer might release two coffee pots, one with a timer and one without. Process costing lets the manufacturer know how much the timer costs to add to the coffee pot, which enables the manufacturer to gauge how much it must raise the price on the coffee pot with the timer.<\/p>\n\n\n\n<ul>\n<li><strong>INNOVATIVE INDUSTRIES<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costs are important in industries that have high innovation. For example, manufacturers cannot determine an appropriate price for a new type of product without knowing how much the product will cost to manufacture overall. In addition, businesses cannot determine if a product will be profitable until they know the overall cost so they can estimate the maximum price that customers will pay for the product.<\/p>\n\n\n\n<ul type=\"1\" start=\"6\">\n<li><strong>FOOD AND BEVERAGE INDUSTRY<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing is commonly used in the food and beverage industry for products that undergo various stages of processing, such as baking, brewing, and canning. It helps determine the cost per unit for each process, including ingredients, labor, and overhead costs.<\/p>\n\n\n\n<ul type=\"1\" start=\"7\">\n<li><strong>TEXTILE INDUSTRY<\/strong><\/li>\n<\/ul>\n\n\n\n<p>In the textile industry, process costing is applied to track the cost of manufacturing fabrics, clothing, and other textile products. It helps allocate costs to different stages of production, such as spinning, weaving, dyeing, and finishing.<\/p>\n\n\n\n<ul type=\"1\" start=\"8\">\n<li><strong>OIL AND GAS INDUSTRY<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing is crucial in the oil and gas industry, where exploration, extraction, refining, and distribution processes are involved. It helps calculate the cost per barrel or unit of oil or gas produced, considering drilling, refining, transportation, and storage costs.<\/p>\n\n\n\n<ul type=\"1\" start=\"9\">\n<li><strong>STEEL INDUSTRY<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing is widely used in the steel industry, where raw materials like iron ore and coal are processed into steel products. It assists in determining the cost of each process, including blast furnace operations, smelting, casting, rolling, and finishing.<\/p>\n\n\n\n<ul type=\"1\" start=\"10\">\n<li><strong>PHARMACEUTICAL INDUSTRY<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing is applied in the pharmaceutical industry to track the cost of manufacturing drugs and pharmaceutical products. It helps allocate costs to various stages, such as research and development, formulation, testing, packaging, and distribution.<\/p>\n\n\n\n<ul type=\"1\" start=\"11\">\n<li><strong>AUTOMOTIVE INDUSTRY<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing is utilized in the automotive industry for manufacturing vehicles. It helps determine the cost of different processes, including assembly, painting, welding, machining, and quality control.<\/p>\n\n\n\n<ul type=\"1\" start=\"12\">\n<li><strong>ELECTRONICS INDUSTRY<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing is employed in the electronics industry, where products like smartphones, computers, and televisions are manufactured. It helps allocate costs to processes like assembly, testing, quality control, and packaging.<\/p>\n\n\n\n<ul type=\"1\" start=\"13\">\n<li><strong>PAPER INDUSTRY<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Process costing is commonly used in the paper industry, where the manufacturing process includes stages like pulping, bleaching, drying, and cutting. It helps determine the cost per unit of paper produced, considering various inputs and processing stages.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noreferrer noopener\">CONNECT ON LINKEDIN<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cost-accounting\/\">Cost Accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-cost-accounting-pdf\/\">Scope of cost accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/elements-of-cost\/\">Elements of cost<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/types-of-cost\/\">Types of cost<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/material-control-in-cost-accounting-pdf\/\">Material control<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/perpetual-inventory-system\/\">Perpetual inventory system<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/pricing-of-materials\/\">Pricing of materials<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/bin-card\/\">Bin Card<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/store-ledger\/\">Stores Ledger<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/incentive-plans\/\">Incentive plans<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/overhead\/\">Overheads<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-treatment-of-idle-time\/\">Idle time<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/system-of-wage-payment-in-cost-accounting\/\">System of wage payment in cost accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-time-rate-system-and-piece-rate-system\/\">Time rate vs piece rate wage system<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cost-centre\/\">Cost Center<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/labor-turnover\/\">Labour Turnover<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-management-accounting-and-cost-accounting\/\">Difference between management accounting and cost accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/allocation-and-apportionment-of-overheads\/\">Allocation and apportionment of overheads<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-allocation-and-apportionment-of-overheads\/\">Allocation vs Apportionment of overheads<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/absorption-of-overheads\/\">Absorption of overheads<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/over-absorption-and-under-absorption-of-overheads\/\">Over absorption and under absorption of overheads<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/activity-based-costing\/\">Activity based costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-traditional-costing-and-activity-based-costing\/\">Traditional costing vs ABC system<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reconciliation-of-accounts\/\">Reconciliation of accounts<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/unit-costing\/\">Unit costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cost-sheet-format\/\">Cost sheet format<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cost-sheet-vs-production-account\/\">Cost sheet vs production sheet<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/job-costing\/\">Job costing<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/batch-costing\/\">Batch Costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-job-costing-and-batch-costing\/\">job costing vs batch costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/contract-costing\/\">Contract costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-job-costing-and-contract-costing\/\">Job Costing vs Contract costing<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/process-costing\/\">Process Costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/process-costing-vs-job-costing\/\">Process costing vs job costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/joint-products\/\">Joint products<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/by-products\/\">By Product&nbsp;<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/equivalent-production\/\">Equivalent production<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/marginal-costing\/\">Marginal costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/applications-of-marginal-costing\/\">Application of marginal costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cost-volume-profit-analysis\/\">Cost volume profit analysis<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/tools-and-techniques-of-marginal-costing\/\">Tools and techniques of marginal costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/budget\/\">Budget<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/break-even-point\/\">Break even point<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/process-of-budgetary-control\/\">Process of budgetary control<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/explain-the-advantages-and-limitations-of-budgetary-control\/\">Advantages and limitations of budgetary control<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/budgetary-control\/\">Budgetary Control<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/zero-base-budgeting\/\">Zero base budgeting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/standard-costing\/\">Standard Costing<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/variance-analysis\/\">Variance Analysis<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-standard-costing-and-budgetary-control\/\">Standard costing vs budgetary control<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-management-accounting-and-cost-accounting\/\">Management accounting vs cost accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-financial-accounting-management-accounting-and-cost-accounting\/\">Cost accounting vs financial accounting<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/why-cost-accounting-is-necessary-best-detailed-explanation\/\">Why cost accounting is necessary<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/essentials-of-a-good-costing-system\/\">Essentials of good costing system<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/objectives-and-advantages-of-cost-accounting\/\">objectives and advantages of cost accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/meaning-and-scope-of-cost-accountancy-pdf\/\">scope of cost accountancy<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cost-accounting-is-an-indispensable-tool-of-modern-management\/\">Cost accounting is an indispensable tool of modern management<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/while-financial-accounting-is-external-cost-accounting-is-internal-to-the-business-discuss\/\">While financial accounting is external, cost accounting is internal to the business.<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/nature-and-advantages-of-cost-accounting\/\">Explain nature and advantages of cost accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cost-accounting-is-becoming-more-and-more-relevant-in-emerging-scenario-in-india\/\">Cost accounting in emerging scenario of India<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/objectives-of-cost-accounting\/\">Objectives of cost accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-cost-accounting-and-their-adaptability-in-different-industries\/\">Methods of cost accounting and their adaptability in different industries<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/meaning-of-escalation-clause-in-contract-costing\/\">Escalation clause in contract costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/calculation-of-profits-in-contract-costing\/\">Calculation of profits in contract costing<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cost-plus-contracts-in-contract-costing\/\">cost plus contracts<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/importance-of-equivalent-production-in-valuing-work-in-progress\/\">Importance of equivalent production in valuing work in progress<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/treatment-of-normal-loss-and-abnormal-loss-in-process-costing\/\">Treatment of normal loss and abnormal loss in process costing<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/features-of-process-costing-top-15-points\/\">Features of process costing?<\/a><\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-id=\"7285\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide1-5-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7285\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide1-5-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide1-5-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide1-5-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide1-5.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-id=\"7286\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-4-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7286\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-4-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-4-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-4-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide2-4.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-id=\"7288\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide3-3-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7288\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide3-3-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide3-3-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide3-3-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide3-3.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-id=\"7292\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide4-3-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7292\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide4-3-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide4-3-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide4-3-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide4-3.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-id=\"7291\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide5-3-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7291\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide5-3-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide5-3-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide5-3-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide5-3.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-id=\"7289\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide6-3-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7289\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide6-3-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide6-3-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide6-3-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide6-3.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-id=\"7290\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide7-3-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7290\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide7-3-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide7-3-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide7-3-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide7-3.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-id=\"7287\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide8-3-1024x576.jpg\" alt=\"APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES\" class=\"wp-image-7287\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide8-3-1024x576.jpg 1024w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide8-3-300x169.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide8-3-768x432.jpg 768w, https:\/\/commerceiets.com\/wp-content\/uploads\/2023\/06\/Slide8-3.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n<figcaption class=\"blocks-gallery-caption wp-element-caption\"><span style=\"font-weight: normal;\">APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES<\/span><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES&#8211; MEANING OF PROCESS COSTING Process Costing is that aspect of operation costing which is used to ascertain the cost of the product at each process or stage of manufacture. This method of accounting used in industries where the process of manufacture is divided into two or more processes&#8230;.<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/applications-of-process-costing-in-different-industries\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;TOP 10 APPLICATIONS OF PROCESS COSTING IN DIFFERENT INDUSTRIES&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":7283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[187],"tags":[558],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/7282"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=7282"}],"version-history":[{"count":2,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/7282\/revisions"}],"predecessor-version":[{"id":7294,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/7282\/revisions\/7294"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/7283"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=7282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=7282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=7282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}