A form prepared periodically for each processing department summarizing (1) the units for which the department is accountable and the disposition of these units and (2) the costs charged to the department and the allocation of these costs is called a:
A) schedule of Cost of Goods Manufactured.
B) production cost report.
C) job order cost sheet.
D) schedule of Cost of Goods Sold.

Question

Quizplus · Accepted Answer

A production cost report is a form prepared periodically for each processing department summarizing (1) the units for which the department is accountable and the disposition of these units and (2) the costs charged to the department and the allocation of these costs.

A Form Prepared Periodically for Each Processing Department Summarizing (1)