Asked by Felicity Ramires on Jul 16, 2024
Verified
One of the primary uses of a cost of production report is to assist management in controlling production costs.
Cost Of Production Report
A document that outlines the total cost and production information for a specific period within a manufacturing department.
Production Costs
Expenses incurred in the process of making or manufacturing a product.
- Grasp the importance of controlling production costs and how they are analyzed.
Verified Answer
MG
Megan GasselJul 22, 2024
Final Answer :
True
Explanation :
A cost of production report provides information on the various costs associated with production, helping management to identify areas of inefficiency and take necessary measures to reduce production costs. Therefore, it plays an important role in helping management control production costs.
Learning Objectives
- Grasp the importance of controlling production costs and how they are analyzed.