A summary of work completed with related unit and total costs in a process costing system is called a(n):
A)Equivalent units production form.
B)Cost requisition form.
C)Summary of conversion costs.
D)Production cost report.

Question

Quizplus · Accepted Answer

A production cost report summarizes the work completed, the related unit costs, and the total costs in a process costing system. A cost requisition form is a document used to request materials or services, and a summary of conversion costs only includes the costs associated with the conversion process of raw materials into finished goods, while a equivalent units production form is used to calculate the equivalent units of production for both direct materials and conversion costs.

A Summary of Work Completed with Related Unit and Total