Cost accounting systems are primarily concerned with accumulating product cost information.

Question

Quizplus · Accepted Answer

Cost accounting systems are designed to collect and analyze information about the costs of producing goods or services, including direct materials, direct labor, and overhead costs. This information is used to determine the cost of individual products or services and to make decisions about pricing, production, and inventory management. Therefore, cost accounting systems are primarily focused on accumulating product cost information.

Cost Accounting Systems Are Primarily Concerned with Accumulating Product Cost