A process cost accounting system accumulates costs for each of the departments or processes within the factory.

Question

Quizplus · Accepted Answer

This is true. In a process cost accounting system, costs are accumulated for each department or process within the factory to determine the total cost of producing a product. This allows for a more accurate allocation of costs to specific products, as each department or process may require different levels of resources and contribute differently to the final product.

A Process Cost Accounting System Accumulates Costs for Each of the Departments