A form prepared periodically for each processing department summarizing (1) the units for which the department is accountable and the units to be assigned costs and (2) the costs charged to the department and the allocation of these costs is termed a:
A) factory overhead production report
B) manufacturing cost report
C) process cost report
D) cost of production report

Question

Quizplus · Accepted Answer

A cost of production report is used in process costing to summarize the units and costs for which a department is accountable, including the allocation of costs to units.

A Form Prepared Periodically for Each Processing Department Summarizing (1)