The weighted-average approach to process costing combines the work and costs done in prior periods with the work and costs done in the current period.

Question

Quizplus · Accepted Answer

The statement correctly describes the weighted-average approach to process costing. It takes into account the units and costs incurred in the current period as well as those incurred in prior periods, and calculates an average cost per unit based on the weighted contribution of each period's work and costs.

The Weighted-Average Approach to Process Costing Combines the Work and Costs