Which of the following is the correct order of the four steps of tracking product costs?

Question

Quizplus · Accepted Answer

The correct order of the four steps of tracking product costs is: 
1. Accumulate: Collect all the costs associated with producing the product, including direct materials, direct labor, and manufacturing overhead costs. 
2. Assign: Assign the costs to the specific products that they are associated with. 
3. Allocate: Allocate the overhead costs to the products using an appropriate allocation method. 
4. Adjust: Reconcile any differences between the actual costs and the estimated costs and make any necessary adjustments.

Therefore, choice B is the correct order of the four steps.

Which of the Following Is the Correct Order of the Four