A process cost summary is an accounting report that describes the costs charged to a department, the equivalent units of production by the department, and how the costs were assigned to the output.

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A process cost summary is a standard accounting report that provides information on the costs charged to a department, the equivalent units of production, and the cost allocation to the output. It is often used in manufacturing sectors where homogeneous products are produced continuously in large quantities. The report helps managers to estimate the production cost and make decisions about pricing, volume, and other aspects of the manufacturing process.

A Process Cost Summary Is an Accounting Report That Describes