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A process cost accounting system is best used by manufacturers of like units of product that are not distinguishable from each other during a continuous production process.
Process Cost Accounting System
A method of accounting used by companies that produce similar or identical units of product in batches employing a consistent process.
Continuous Production
A manufacturing process where production runs 24 hours a day, typically 7 days a week, without interruption.
Like Units
Units of product that are identical or nearly identical in their functions or physical properties.
- Comprehend the difference and utilization of job order cost and process cost accounting systems.
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Learning Objectives
- Comprehend the difference and utilization of job order cost and process cost accounting systems.
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