Which of the following are characteristics of process cost systems?
A)They used by companies that mass-produce similar products in a continuous fashion.
B)They are best utilized when tracking costs by department are not important.
C)They are focused on tracking job cost information.
D)They help determine inventory amounts but not cost of goods.

Question

Quizplus · Accepted Answer

Process cost systems are used by companies that mass-produce similar products in a continuous fashion, such as in industries like chemicals, pharmaceuticals, and food and beverage. This type of system is designed to track the cost of producing each unit of product in a larger batch, rather than tracking the cost of individual jobs or batches.

Which of the Following Are Characteristics of Process Cost Systems