A system of accounting for production operations that produces timely information about inventories and manufacturing costs per unit of product is a:
A) Finished goods accounting system.
B) General accounting system.
C) Manufacturing accounting system.
D) Cost accounting system.
E) Production accounting system.

Question

Quizplus · Accepted Answer

A cost accounting system is designed to provide timely and accurate information about inventories and manufacturing costs per unit of product. This system helps in tracking the costs associated with each stage of the manufacturing process, including the cost of raw materials, labor, and overhead. By providing this information, a cost accounting system allows businesses to make informed decisions about pricing, production levels, and inventory management.

A System of Accounting for Production Operations That Produces Timely