Which of the following in a process costing system helps in verifying the cost of ending work in process inventory for a period?
A)Materials requisitions and labor time tickets
B)Cost recap included in the statement of production
C)Cost recap included in the process cost report
D)None of the these

Question

Quizplus · Accepted Answer

The cost recap included in the process cost report helps in verifying the cost of ending work in process inventory for a period. It provides a summary of all the production costs incurred during the period and helps in calculating the cost of ending inventory by subtracting the cost of goods completed from the total cost of goods started. Materials requisitions and labor time tickets help in tracking the usage of raw materials and direct labor, respectively, but do not provide a summary of all production costs. The cost recap included in the statement of production may provide information on the total cost of goods produced, but may not provide a detailed breakdown of production costs by process or department. Therefore, the best choice is C.

Which of the Following in a Process Costing System Helps