Costing systems record the cost of resources acquired,such as materials,labour and equipment,and track how those resources are used to produce and sell products or services.

Question

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Costing systems are used to track the cost of resources acquired and how those resources are used in the production and sale of products or services. This helps organizations to accurately measure the cost of producing goods or delivering services and optimize their operations.

Costing Systems Record the Cost of Resources Acquired,such as Materials,labour