Select the incorrect statement regarding the cost of production report.
A) The report consists of two sections, a units section and a costs section.
B) The report is produced monthly by job or batch.
C) The cost inputs on the report come from the Work in Process account.
D) The report indicates the cost of units transferred out.

Question

Quizplus · Accepted Answer

The cost of production report is typically associated with process costing systems, not job or batch costing systems. It is designed for processes or departments within a manufacturing environment, where costs are accumulated for a period and then allocated to units produced during that period, rather than for individual jobs or batches.

Select the Incorrect Statement Regarding the Cost of Production Report