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Author Question: BIG Manufacturing Products has been using FIFO process costing for tracking the costs of its ... (Read 61 times)

Jkov05

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BIG Manufacturing Products has been using FIFO process costing for tracking the costs of its manufacturing activities. However, in recent months, the system has become somewhat bogged down with details. It seems that, when the company purchased Brown Electronics last year, its product lines increased six-fold. This has caused both the accountants and the suppliers of the information, the line managers, great difficulty in keeping the costs of each product line separate. Likewise, the estimation of the completion of ending work-in-process inventories and the associated costs has become very cumbersome. The chief financial officer of the company is looking for ways to improve the reporting system of product costs. 

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What can you recommend to improve the situation?


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Marked as best answer by Jkov05 on Mar 6, 2021

jessicaduplan

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Jkov05

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Reply 2 on: Mar 6, 2021
Excellent


komodo7

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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