Carmelita Inc. has the following information available:
-A report prepared periodically by a processing department, summarizing (1) the units for which the department is accountable and the disposition of those units and (2) the costs incurred by the department and the allocation of those costs between completed and incomplete production, is termed a
A)factory overhead production report
B)manufacturing cost report
C)process cost report
D)cost of production report

Question

Carmelita Inc. has the following information available:  ​
-A report prepared periodically by a processing department, summarizing (1) the units for which the department is accountable and the disposition of those units and (2) the costs incurred by the department and the allocation of those costs between completed and incomplete production, is termed a
A)factory overhead production report 
B)manufacturing cost report 
C)process cost report 
D)cost of production report

Quizplus · Accepted Answer

A cost of production report summarizes the units and costs in a processing department, detailing accountability and cost allocation.