Which of the following statements is false regarding process costing?
A) Units that are partially complete can be expressed in terms of equivalent units.
B) Only one work-in-process account is allowed.
C) The products produced by a certain process are all identical.
D) The use of a predetermined overhead rate is allowed.

Question

Quizplus · Accepted Answer

Multiple work-in-process accounts are used in process costing to keep track of the costs incurred at different stages of the production process. Each account is assigned to a specific department or stage of the production process.

Which of the Following Statements Is False Regarding Process Costing