Which of the following statements about product costing is false?
A) Product costs may differ depending on the decision context.
B) Organisations should aim to have only one product costing system.
C) In designing a product costing system, managers need to make a careful assessment of costs and benefits associated with each element of the product cost.
D) Both current costs and future costs are relevant for managerial decisions.

Question

Quizplus · Accepted Answer

It is not always feasible or desirable for organizations to have only one product costing system as different products or decision contexts may require different costing methods. It is important for managers to assess which costing system is most appropriate for each situation.

Which of the Following Statements About Product Costing Is False