Describe the raw materials used in each pocess and name two costs that would be included in conversion cost for each process.

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Complete the Skills Development Case S3-1. Submit a one-page document with your response to Case S3-1.

Please incorporate the “Virtuous Leaders & Organizations” article perspective into your response with Textbook and scholarly peer
reviewed article to support your response

Read the Skills Development Case S3-1, “Video Case Assignment: Identifying Characteristics of Process Costing,” at the end of Chapter 3 in Managerial Accounting.
Video Go to www.YouTube.com and search for How Its Made, a television show produced by the discovery chanel that shows how
thousands of products and servics are created. Find a product or service for which process costing would be apppropriate, such
as toothpast, matches, batteries, potato chips or coins.

Watch the video and answer the following questions:

What product or service did you choose?
Why is process costing appropriate for this setting?
Why does the compay that makes the product or sercie need a cost system?
Describe two decisions a manager might make based on cost information.
Prepare a diagram to show the various processes requried to make the product or service.
Describe the raw materials used in each pocess and name two costs that would be included in conversion cost for each process.
How would the company determine the cost of units in process at any given point in time?
Why would manages need to know the cost of items in process.

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