Under process costing,the costs incurred by each department are reported in ________.
A) a job cost sheet
B) the Finished Goods Inventory account
C) the Cost of Goods Sold account
D) a production cost report

Question

Quizplus · Accepted Answer

Under process costing, the costs incurred by each department are reported in a production cost report, which summarizes the costs of direct materials, direct labor, and manufacturing overhead for each production department. This report provides detailed information about the cost of production for management to make informed decisions. The other options (A, B, C) are not applicable in process costing as they are used in job costing.

Under Process Costing,the Costs Incurred by Each Department Are Reported