When a company uses a process costing system and has more than one department, which of the following types of accounts will result in multiple accounts in the general ledger?

Question

Quizplus · Accepted Answer

In a process costing system, when a company has multiple departments, each department may have its own Work in Process (WIP) account to track the costs of products as they move through the different stages of production. This results in multiple WIP accounts in the general ledger. Finished Goods, Materials, and Wages Payable typically do not have separate accounts for each department.

When a Company Uses a Process Costing System and Has