A process cost summary is a managerial accounting report that describes all but which of the following:
A) The costs charged to a department.
B) The equivalent units of production by the department.
C) How the costs were assigned to the output.
D) The gross profit earned on the sale of products.
E) Physical transfers for a department.

Question

Quizplus · Accepted Answer

The process cost summary does not typically provide information on the gross profit earned on the sale of products. It focuses on the costs incurred and how they were assigned to the output.

A Process Cost Summary Is a Managerial Accounting Report That