Which of the following is NOT a step in preparing a process costing report?

Question

Quizplus · Accepted Answer

Tracing materials cost back to individual jobs is a step in preparing a job costing report, not a process costing report. In a process costing report, costs are traced to individual production processes or departments rather than specific jobs. The other three steps listed (tracking the physical flow, computing equivalent units, and collecting costs to be allocated) are all key steps in preparing a process costing report.

Which of the Following Is NOT a Step in Preparing