Asked by sauli Lianga on May 02, 2024
Verified
Industries that typically use process cost systems include chemicals, oil, metals, food, paper, and pharmaceuticals.
Process Cost Systems
These are accounting systems used in manufacturing environments where production is continuous, and costs are tracked and accumulated by process or department.
Pharmaceuticals
Products and substances manufactured and used in the diagnosis, treatment, or prevention of diseases and medical conditions.
- Understand the industries and products suitable for process costing versus job order costing.
Verified Answer
DN
David NorteyMay 05, 2024
Final Answer :
True
Explanation :
These industries have a high level of production with uniform products and typically use process cost systems to track the costs of each stage of production.
Learning Objectives
- Understand the industries and products suitable for process costing versus job order costing.
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