Asked by Spanky Dixon on Jul 01, 2024
A system of accounting in which costs are accumulated and then measured per unit at the end of a period by combining costs per equivalent unit from various departments is a:
A) General cost accounting system.
B) Process costing system.
C) Job order cost accounting system.
D) Manufacturing cost accounting system.
E) Work in Process accounting system.
Process Costing System
An accounting method used where identical units are mass-produced, assigning average costs to each unit, making it easier to track and manage costs.
- Understand the flow of costs in process costing from work in process to finished goods.
Learning Objectives
- Understand the flow of costs in process costing from work in process to finished goods.