In process cost accounting:

Question

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In process cost accounting, a work-in-process account is maintained for each process. This allows for the tracking of costs and inventory at each stage of production. Choice A is incorrect because materials requisitions are not necessary in process cost accounting, as materials are typically used across multiple products or batches. Choice B is incorrect because a job costing system is not used in process cost accounting. Choice D is also incorrect because a work-in-process account is not maintained for each product.

In Process Cost Accounting