Cost accounting systems accumulate costs and then assign them to products or services.

Question

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Cost accounting systems are designed to track and accumulate costs associated with various activities and resources within an organization. These costs can then be assigned to specific products, services, or cost centers, allowing managers to better understand the true costs of producing goods or providing services. This information can then be used for a variety of purposes, such as pricing decisions, cost analysis, and performance evaluation.

Cost Accounting Systems Accumulate Costs and Then Assign Them to Products