A process costing is a costing approach where detailed costs to perform activities throughout the value chain are computed and can be managed or assigned to cost objects, including products.

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Process costing is a costing method used where identical or similar items are produced in mass quantities, and the costs associated with these products are averaged over the units produced, rather than tracking detailed costs for specific activities or cost objects.

A Process Costing Is a Costing Approach Where Detailed Costs