Weighted-average process-costing method

Weighted-average process-costing method is method of process costing that assigns the equivalent-unit cost of the work done to date (regardless of the accounting period in which it was done) to equivalent units completed and transferred out of the process and to equivalent units in ending work-in-process inventory.

Definitions

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Weighted-average process-costing method. Method of process costing that assigns the equivalent-unit cost of the work done to date (regardless of the accounting period in which it was done) to equivalent units completed and transferred out of the process and to equivalent units in ending work-in-process inventory.