Which one of the following is a true statement about process cost systems?

Question

Quizplus · Accepted Answer

In process cost systems, costs are accumulated and assigned to each production department or process. This allows for the tracking of the costs associated with each step of the production process, and helps to determine the final cost of the finished goods. Option B is incorrect because a process cost system does not track individual jobs, but rather the costs associated with each production process. Option C is incorrect because costs are not summarized by batch, but by production department or process. Option D is incorrect because unit costs are important in process cost systems to determine the average cost of each unit produced.

Which One of the Following Is a True Statement About