Process costing makes assumptions about exactly when and how costs are incurred during the production process.

Name: Process costing makes assumptions about exactly when and how costs are incurred during the production process.
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Question

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Process costing averages costs over a large number of units, assuming that each unit incurs costs in the same way and at the same rate during the production process, rather than tracking exact costs for individual units.

Process Costing Makes Assumptions About Exactly When and How Costs